POSCO Research Institute (POSRI) forecasted in its latest report, 'The Prospects for Supply and Demand of Steel from the Second Quarter of 2003 through the First Quarter of 2004,' that the annual demand for steel products this year would reach 57,1950,000 tons, up 0.9 percent from 2002. It also foresaw the output of steel-consuming industries would become weak in line with the anticipated adjustment of domestic business conditions and accordingly, the domestic nominal consumption of steel products including sales and inventory in 2003 would stay at the level similar to last year.
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