Global Steel Demand Better Than Expected, Will Accelerate Through 2010

The World Steel Association has increased its demand forecast for 2009 substantially, to -8.6% from -14.1% in terms of tonnage. They then expect growth near 10% for 2010. China surprised with stronger than expected demand in 2009, yet other regions will pick up the slack in 2010, primarily Europe and North America where demand is expected to rise 12.4% and 17.1% respectively. U.S. demand in particular could rise almost 18.8%.

Overall steel demand volume for the EU and North America will still be depressed near 1991 levels, yet the trend will likely be back to growth.

(Via The World Steel Association)

Steel Demand

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