In their 'Short Term Outlook' published today, the International Iron and Steel Institute (IISI) predict that year 2007 world steel demand will be just short of 1.2 billion metric tonnes. Steel consumption in 2008 is expected to grow by 6.8%. This means that 2007 consumption of ~1198 mt will increase to ~1279 mt in 2008.
Brazil, Russia, India and China lead the growth in steel demand, accounting for ~77% of world demand growth in 2007 and ~71% of the expected growth in 2008.
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Labels: 2008, demand, steel, world