Short Term Global Steel Growth Predicted at 4-5%

According to the IISI (International Iron and Steel Institute) web site:

The prospects are good for continued real growth in the demand for steel worldwide according to the latest projections by IISI. Apparent Steel Demand is forecast to grow […] 4-5% over the two year period.

The strongest growth continues to come from China which should see a 10% increase in steel demand in 2005 and a further 7-10% growth next year. In the rest of the world, Apparent Steel Demand in 2005 will be the same as in 2004. A significant build-up of steel inventories in 2004 has been worked-off this year.

Like everything you read here, take this with a grain of salt. This is a steel makers industry group. Good for them is high prices and high growth rates. This is not the same “good” that metal stampers perceive …

In other news …

Last week MEPS reported that steel prices were flat in Europe but rising in North America. This week the same article has been retitled “High North American prices could lead to surge in Imports”. A good point ….

MEPS is also reporting Remarkable growth forecasts for China’s stainless steel sector were made at a recent industry meeting in Shanghai. Chinese production capacity in 2006 will be double the figure in 2004. Moreover, if current expansion plans are fully realised, China could be melting more than […] 60 percent of current world output.

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