The World Steel Association’s “Short Range Outlook” for 2012 and 2013 forecasts that worldwide apparent steel use, which it defines as deliveries minus net exports of finished steel products, will increase 2.1% in 2012, down from 6.2% growth in 2011. Worldwide apparent steel use is slated to increase 3.2% in 2013 to 1,455 million metric tons (mmt). Apparent steel use in Asia and Oceania will increase 2.4% this year and 2.8% next year to account for 65% of the world’s total apparent steel use, led by China, which will represent 45%. Although the EU’s apparent steel use will drop 5.6% this year, it will increase 2.4% in 2013 to make up 10% of global apparent steel use. NAFTA countries have the world’s third-largest share of apparent steel use at 9%, with demand jumping 7.5% this year and 3.6% next year. Growth in steel demand will slow in India to 5.5% and 5.0% in 2012 and 2013, respectively, to 77.3 mmt. Besides the EU, Japan is the only other region where demand will decline, falling 2.9% next year to 63.6 mmt.

Source: World Steel Association