Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

Forecast Says World Steel Demand To Grow Into 2014

SAO PAULO, Oct. 8 (UPI) — Steel demand worldwide will continue to gradually increase through next year, an industry association said in a report released in Brazil.

The World Steel Association said some significant risks to steel consumption had eased in recent months and would fuel a 3.1 percent increase in steel usage this year and a 3.3-percent rise in 2014 to 1,523 million metric tons.

Steel consumption last year was up 2.0 percent, and the WSA said the near-term included fewer question marks for the industry, “The key risks in the global economy — the eurozone crisis and a hard landing for the Chinese economy — have continued to stabilize through the past six months,” said Hans Jurgen Kerkhoff, a member of the WSA Economics Committee. “Our underlying assumption remains that the U.S. will resolve its fiscal constraint soon.”

China will likely remain the driving force in the world steel market, the report said. Demand in China this year will likely be 6.0 percent over 2012, or just under 700 million metric tons. When China is removed from the worldwide equation, steel demand for 2013 is up a modest 0.7 percent.

“Next year, however, the growth rate for Chinese demand is expected to slow down while things pick up in developing economies,” Kerkhoff said. “Steel demand in 2014 is expected to slow to 3.0 percent growth as the Chinese government’s efforts to re-balance the economy continue to restrain investment activities.”

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Facebook Conversations

Join the Discussion:
View Comments to “Forecast Says World Steel Demand To Grow Into 2014”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.