World demand for steel in 2010 will grow by 13.1%

The World Steel Association (World Association, WSA) has clarified its forecast for steel in 2010-2011. According to data published on 6.10.2010, this year the demand for steel will increase by 13.1% and reach a record level of 1.272 billion tons.

In 2009, growth amounted to 6.6%. Back in April of this year, the World Association of Manufacturers of Steel was less optimistic, predicting an increase of 10.7%. As the head of the WSA Economic Committee Daniel Novigil noted, "to improve the previous forecast allowed a stable and confident restoration of the economy in the EU, North America and the CIS countries."

In 2010, the demand for steel will increase most of the North American Free Trade Agreement (NAFTA) by 32.9% due to the restoration of production and significant growth in the construction sector. The growth of the EU economy and a significant increase in industrial export volumes, especially from Germany, will increase the demand for steel by 18.9%in this region.

The largest growth in 2011, according to WSA analysts, will show the CIS market (11.1%). This is the residual effect of a low base: the region has suffered more than the rest in a crisis.