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Home > MEPS Steel News - 15.01.2013

SLOW RECOVERY FORECAST FOR NORTH AMERICAN STEEL OUTPUT - MEPS

The economy of the United States and Canada recovered slightly in 2012. This translated into stronger demand for steel, despite volatile pricing over the year. The main growth market was the automotive sector. In contrast, consumption slipped in Mexico. MEPS predicts only modest improvement in apparent steel consumption across the region in the years ahead. There are a number of economic difficulties to overcome. We do not expect steel usage in 2016 to attain the pre-crisis level recorded in 2007.

Steelmaking in the NAFTA region is expected to reach approximately 122 million tonnes in 2012. Only modest gains are likely in the following four years due to sluggish economic conditions and strong price competition from emerging countries. The North American share of global output is likely to fall from 16 percent at the start of the millennium to just 7 percent at the end of the forecast period.

Source: Global Iron & Steel Making to 2016  - A new report from MEPS.

FOR MORE INFORMATION ABOUT THE GLOBAL IRON & STEEL MAKING TO 2016 CLICK HERE

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