Steel consumption in Ukraine to reduce by 7.9% this year

Worldsteel forecasts, this year world consumption of steel will increase by 3.1% (to 1.475 billion tons). In 2014 it can increase by 3.3% (to 1.523 billion tons) and set one more record. The countries with developing economies will remain the main driver of the growth. First of all, it is China which produces and consumes more than a half of metal products in the world.

“In 2014 we hope to see the renewal of the world demand for steel and developed states will return to positive growth”, is said in the report with reference to the Chairman of the economic committee of Worldsteel, Hans Jurgen Kerkhoff. At the same time, slowdown of the growth in China is expected. Taking into account the risk of reduction of the demand in developed countries, there is some vagueness about the developing states – unsolved structural problems, political instability and the volatility of financial markets. Totally, in spite of the economic conditions and the fact the that world steel industry remains vague, in 2014 growth of demand for metal products in expected.

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