Demand for steel products - industrial and emerging markets 2018-2020

Demand for steel products in emerging markets is forecast to amount to approximately 1.3 billion metric tons in 2020. Emerging markets, India and China in particular, play a significant role in the global demand for steel products.

Demand for steel in China and India

China accounts for nearly half of the world’s steel consumption and similarly provides much of the global steel output. In the upcoming years, China’s steel product consumption is expected to grow more slowly and perhaps even drop in 2019. At the same time, India is expected to see some of the fastest growth in the world. Domestic construction and infrastructure account for most of India’s steel demand.

Changing steel prices

Global demand for steel is expected to increase throughout 2020. In industrial nations, growth is slow due to tougher environmental regulations and uncertain demand from the automotive and construction industries. Steel prices are currently volatile. On top of that, the United States has been changing the tariffs of steel imports from many countries, and demand for certain products pushes up prices.

Demand for steel products in industrial and emerging markets from 2019 to 2020

Industrial countriesEmerging markets
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Source

Release date

April 2019

Region

Worldwide

Survey time period

2019

Supplementary notes

The figures for 2019 and 2020 are projections; the figure for emerging markets has been calculated by comparing demand in industrialized countries to the world total.

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