The growth in steelmaking capacity in countries outside the Organization for Economic Co-operation and Development (OECD) is slowing. In 2014, such capacity is expected to reach 1.56 billion tons per year (tpy), a 5.5% increase in average annual capacity since 2011 or a 17.4% increase in total. Asia is estimated to account for 81% of the increase of non-OECD steelmaking capacity from 2011 to 2014. Capacity in China, which accounted for 60% of the increase in non-OECD capacity during this period, is expected to grow an average of 5.1% annually during this period to 1,001.2 tpy. Capacity in the Middle East and Africa is estimated to grow at annual averages of 19.4% and 11.7% to 59.9 tpy and 123.7 tpy, respectively, from 2011 to 2014. The fastest growth in average annual growth capacity is expected to be in Vietnam, at 28.3% to 14.5 tpy.

Source: OECD