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Home > MEPS Steel News - 06.02.2013

GLOBAL STEEL PRODUCTION TO RISE BY 4.7 PERCENT IN 2013 - MEPS

MEPS predicts world crude steel output in 2013 at 1620 million tonnes. This equates to a 4.7 percent increase on the estimated outturn of 1548 million tonnes in 2012. The gain in that year was just 1.4 percent.

Blast furnace ironmaking is expected to expand at a rate similar to that of steel in 2013 and reach 1160 million tonnes. Direct reduced iron manufacturing should show better growth as the popularity of this process is increasing in the Middle East and India.

Prospects for the global economy remain uncertain. The eurozone is likely to remain in or close to recession in the medium term. The negative effects of the US “fiscal cliff” have still not permanently been resolved. Furthermore, a marked slowdown has been witnessed in many of the emerging nations. Consequently, only a moderate recovery is envisaged for GDP and steel consumption in 2013. More robust growth is projected to commence in 2014.

Source: MEPS World Steel Outlook Quarter 4-2012 - Now available

Also See: MEPS Steel Reports Online

 

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