It will be interesting to see what projections The World Steel Association (worldsteel) presents next month in its April 2017 Short Range Outlook (SRO) report.
The association, whose members represent up to 85% of the world’s steel production, forecast a global steel demand increase of 0.2% in 2016 in its October outlook, and a further 0.5% for 2017.
Such growth in demand would certainly be a welcome relief in the market. It comes on the back of a sorry 2015, when global steel demand contracted 3%, and a notoriously tough few years for the industry as a whole.
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