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News Release from: MEPS (International)
Edited by the Manufacturingtalk Editorial
Team on 10 January 2008
Global steel consumption to rise 28% by
2011
Global finished steel consumption in 2007 is expected to expand by 7.1% year on year, eports MEPS (International) and anticipates a further 21% increase by 2011.
The appetite for steel continues unabated, reports MEPS (International) World steel demand is forecast to reach over 1.45 million tonnes in 2011
This article was originally published on Manufacturingtalk on 9 Oct 2006 at 8.00am (UK)
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This represents a 320 million tonne hike on the outturn in 2006 and a massive 88% (680 million tonnes) leap in the ten years from 2001.
MEPS told manufacturingtalk.com that it predicts a slowdown in the rate of growth towards the end of the current decade.
Global finished steel consumption in 2007 is expected to expand by 7.1%, year on year.
A further 21% increase is anticipated over the period to 2011.
* Asia expands onwards - Asia will lead the way - consuming two thirds of the extra world steel output in the five years from 2006.
Significant gains are also anticipated in the other emerging nations.
Consumption growth of almost 20% is expected in the former USSR.
A massive 50% rise is forecast for Africa/Middle East.
More than 40% is predicted for China.
In Asia (excluding China and Japan) the figure is likely to be almost 30%.
In the mature economies of the industrialised nations the growth rate will be modest.
In 2000 the industrialised nations consumed almost 50% of the global requirement.
By 2006 the figure had dropped to around 33%.
In 2011 MEPS anticipates it falling to near 27% of the world total.
* Source - MEPS Global Iron and Steel Production to 2011.
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