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Worldsteel sees global demand contracting this year

The World Steel Association is expecting global steel demand to contract by 2.3% year on year this year which is a revision from its April update which viewed output growing by 0.4%.

Worldsteel sees global demand contracting this year Worldsteel sees global demand contracting this year Worldsteel sees global demand contracting this year Worldsteel sees global demand contracting this year Worldsteel sees global demand contracting this year

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The contraction would see steel demand fall to 1,796.7 million t before a forecast lift in 2023 by 1% to 1,814.7 million t.