Global steel demand slows as China economy falters and trade war hits

摘要

Growth in global steel demand will weaken over the next two years because of slowing economies, sluggish manufacturing in China and the Sino-U.S. trade war, the World Steel Association (worldsteel) said on Tuesday. Demand growth will decline to 1.3 percent in 2019 and 1 percent next year, following 2018's 2.1 percent, the association said. China, which consumes about half the world's steel, has seen its economy decelerate mildly while the government continues to steer the country away from investment-led to consumption-led growth, worldsteel said in a statement. A damaging and long-standing trade conflict between the United States and China has also hurt investment sentiment.