World steel production will grow

According to the latest forecast by the World Steel Association, global steel production is expected to rise this year and next. Although, in both cases, the growth barely exceeds zero, but all the same, production will increase, and in China, fortunately, it will decline.

Excluding China's statistics, global dynamics will be slightly better. Growth this year and next will be 1.1 percent and 2.6 percent, according to Worldsteel. Considering China's overproduction and its impact on global steel prices, any Chinese downturn will be for a boon.

The CIS countries, after an almost ten percent decline last year, will be able to provide an increase of 2.1 percent next year. They will keep production at the 2015 level this year. In the Russian market, there is an increase in the consumption of high-quality and shaped metal products in the construction sector. In contrast to the average world prices for rolled metal products, domestic prices for long products, such fittings, shaped pipes, beams are much lower. The main consumers of these products are construction companies. Although the profile pipe is widely used in the manufacture of furniture, decorative elements, advertising.

WS expects EU steel production to rise to 154.8 million tonnes this year and 156.9 million tonnes next year, up from 153.6 million tonnes smelted last year.

The US, Canada and Mexico all had extremes of 8.2 percent declines a year ago and 2.9 percent increases over the next year, when the region will produce 137.4 million tonnes. This year, production is expected to reach 13.6 million tons.