Steel report predicts global slow-down over next five years

letsrecycle.com: “The latest report from steel sector experts MEPS suggests the global steel market is entering a new phase.

The report said that the cyclical trends seen in the world steel market are no longer being followed, which makes regressive analysis impossible. Boom conditions currently apply in terms of steel prices ? based mainly on perceived raw material shortages. But, MEPS said ‘we do not expect the recent growth rates to continue in the medium term’.

In the three years between 2001 and 2004, MEPS estimated an apparent expansion of finished steel consumption from 766 to 918 million tonnes worldwide, representing an average annual increase of 6% in that period.

This rate of increasing consumption more than doubled the 2.5% average annual increase seen in the decade up to 2002. From 1970 to the year 2000 the average annual increase was just 1.2%. The 2004 figure for finished steel consumption ? about 918 million tonnes ? represented a 5.3% increase on 2003. “

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