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Steel: global demand outlook 2019-2020

Projected world steel consumption from 2018 to 2020 (in million metric tons)

by I. Wagner, last edited Sep 17, 2019
Steel: global demand outlook 2019-2020 Steel consumption is anticipated to grow by roughly one percent between 2019 and 2020. Steel is an important resource in many industries. Construction and manufacturing are the key industries for steel consumption.

China is the world's largest steel market

China is by far the largest market for production and consumption of steel. In China, steel is used primarily for vehicle manufacturing, construction materials, and consumer electronics. As China’s growing economy continues to demand more steel, the energy sector must work hard to keep smelters running. Much of the energy demand is met with coal combustion, contributing to high levels of carbon dioxide emissions. Producing and consuming so much steel means that the global steel industry is tied to China’s steel sector and wider economy.

Steel as a material

Steel products are available in many forms, including slabs, rebars, and rods; each category provides different qualities to their use. Steel consumption is either from steel scrap or virgin steel.
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Projected world steel consumption from 2018 to 2020 (in million metric tons)

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