The World Steel Association (worldsteel) expects steel demand to rise 4.5% this year, a significant increase from the 0.1% recorded during 2020. Her latest short-term forecast suggests future waves of the Covid-19 virus will be less devastating. and a devastating one with a 2.2% growth forecast for 2022, a stronger than expected recovery. Forecasts were revised upward in all areas except China.
The worldsteel report noted that while the manufacturing sector recovery remained more resilient to new waves of infection, supply-side constraints flattened the recovery in the second half of the year and impeded a stronger recovery.
Steel demand exceeds forecasts this year
There are no comments yet.