MEPS expects global production below 2014 level

According to analysts at MEPS International, steel production at the level of 2014 will be achieved again no earlier than the next decade. They especially focus on reducing the production of blast furnace steel.

The main reason for the decline in steel production will be China's policy of reducing production capacity and the disappearance of obsolete, inefficient and environmentally problematic facilities. According to MEPS International, industrialized countries will also keep metallurgical production below 2014 levels over the next five years.

The steelmaking sector in India and the countries of Southeast Asia is very active, which will increase production throughout Asia, which is expected to be 2.5 percent per year.

At the same time, the slowdown is applicable to all types of steel production and will not be offset by this growth. Production at lower levels is expected primarily in steel mills using blast furnace processes. Nevertheless, in the next 5 years, steel production through direct reduction can significantly increase.