Background to the region Crude steel production over the last decade in the countries covered has grown by an average of 6.2 percent since 1990 - albeit from a low base. This makes it one of the most dynamic regions in the world, with global steel production rising by only 0.8 percent over the same period. Total consumption in the region rose at a similar pace - up 6.3 percent per annum. The increase has been, for the most part, driven by the flat products' market (up 15.3 percent per annum over the last six years). In 2002, total finished production in the region is estimated to have been 30.7m tonnes, while consumption was 37m tonnes. Net imports of finished products are therefore more than 6m tonnes. In addition, the region imports more than 4m tonnes of semi-finished goods. As a result, it is of substantial interest to steel suppliers located elsewhere. The CIS is the primary supplier, and has benefited the most from the rising import requirement over the last few years.
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