Global steel demand is expected to grow steadily

On April 18, the World Steel Association saidthat global steel demand is expected to maintain steady growth over the longterm, growing at a compound annual growth rate of 1%.

Overall, we can see that steel demand isgrowing positively and turning more to developing countries. The steel marketis very strong, and we expect demand to increase slightly from the current 1.7billion tons per year. According to the worldsteel forecast, although India'ssteel demand growth is fast, it is expected to exceed 7% in 2019 and 2020, butthis is not enough to support the market. “Unless Africa’s demand increases,the global market can be boosted, but it is not expected to happen in the nextfew years.”