Earlier this month, the World Steel Association released its “Short Range Outlook” for apparent steel use (ASU) for 2014 and 2015. In 2013, ASU reached 1,481 megatons, an increase of 3.6%. ASU is forecast to grow 3.1% in 2014 and 3.3% in 2015. In 2013, developing economies’ ASU was almost triple that of developed economies, at 1,094 megatons, showing 5.1% growth. By region, Asia and Oceania had the highest level of demand in 2013, at 992 megatons, an increase of 4.9%. It was followed by the EU and NAFTA countries, at 139 and 129 megatons, down 0.2% and 2.4%, respectively. ASU in the EU and NAFTA is expected to grow 3.1% and 3.8% in 2014, respectively, and 3.0% and 3.4% in 2015, respectively. China led ASU in Asia and Oceana, at 700 megatons, up 6.1%. Growth in China is expected to slow in 2014 and 2015, however, to 3.0% and 2.7%, respectively. The highest percentage of growth by region was in Africa at 9.8% to 29 megatons. Its growth is forecast over the next two years to be 4.8% and 8.4%, respectively.

Source: World Steel Association