Global steel demand to fall 6.4% in 2020 before 2021 recovery: worldsteel

摘要

London—The World Steel Association said June 4 it expects annual demand for steel to fall by 6.4% to 1.65 billion mt this year before recovering close to pre-pandemic levels in 2021, led by China and the construction sector. “The decline in steel demand in most countries will be less severe than during the global financial crisis as the consumption, which have been hit hardest, is less steel-intensive," said Edwin Basson, worldsteel general director during a video conference to its Short Range Outlook report. "In many developed economies, steel demand was already at a low level, having still not fully recovered from 2008.”