worldsteel
The worldsteel Economics Committee met in
Commenting, Daniel Novegil, Chairman of the worldsteel Economics Committee said, “The general picture is an improvement on the forecast we issued in October last year. The world steel industry now seems firmly set on a path to recovery. The emerging economies, who in total maintained positive growth through the crisis, will continue to show strong growth, driving world steel demand in the future, however the current recovery in the major developed economies is slower and the projected steel demand for them in 2011 is well below the 2007 level.”
“The recovery is not only earlier but also stronger than expected. It was driven in large part by government stimulus packages and recent inventory restocking. The real concern will be how post-crisis macroeconomic policies deal with fiscal balancing and inflationary pressures.” Daniel Novegil concluded.
In the NAFTA region, apparent steel use in the
The EU economies have seen a fall in apparent steel use of -35.2% in 2009 with
Japan, which experienced a fall in apparent steel use of -31.7% in 2009, will see its steel use increase by 10.3% in 2010, but in 2011, its steel demand is expected to stagnate with -0.2% growth due to weakening of its major steel using sectors. This brings
The CIS region was another major victim of the economic crisis due to its heavy dependence on oil revenue and foreign capital. Apparent steel use in the region fell -28.2% in 2009 with a fall of -41.9% in
The MENA region continued to record positive growth in steel use in 2009 despite significant falls in UAE and
1: Apparent steel use (ASU)
Short range outlook for apparent steel use, finished steel (2009-2011)
| Regions | ASU, mmt | | Growth Rates, % | ||||
| 2009 (e) | 2010 (f) | 2011 (f) | | 2009 (e) | 2010 (f) | 2011 (f) | |
| | | | | | | | |
| European Union (27) | 118.4 | 134.6 | 145.2 | | -35.2% | 13.7% | 7.9% |
| Other | 23.9 | 27.2 | 30.4 | | -12.5% | 13.5% | 11.9% |
| C.I.S. | 35.8 | 39.8 | 43.0 | | -28.2% | 11.0% | 8.0% |
| N.A.F.T.A. | 80.9 | 99.9 | 107.1 | | -37.4% | 23.5% | 7.2% |
| Central & South America | 33.6 | 40.4 | 43.1 | | -24.1% | 20.0% | 6.7% |
| | 26.4 | 28.7 | 31.3 | | 9.6% | 8.6% | 9.3% |
| | 40.7 | 44.7 | 48.4 | | -8.0% | 10.0% | 8.2% |
| Asia & Oceania | 761.5 | 825.7 | 857.7 | | 8.7% | 8.4% | 3.9% |
| World | 1,121.2 | 1,240.9 | 1,306.2 | | -6.7% | 10.7% | 5.3% |
| | 542.4 | 578.7 | 594.9 | | 24.8% | 6.7% | 2.8% |
| BRIC | 640.9 | 692.0 | 720.7 | | 17.5% | 8.0% | 4.1% |
| MENA | 57.5 | 62.9 | 68.2 | | 0.8% | 9.5% | 8.4% |
| World excl. | 578.8 | 662.2 | 711.3 | | -24.5% | 14.4% | 7.4% |
| World excl. BRIC | 480.3 | 548.9 | 585.6 | | -26.8% | 14.3% | 6.7% |
# Ends #
Notes to Editors:
· The World Steel Association (worldsteel) is one of the largest and most dynamic industry associations in the world. worldsteel represents approximately 180 steel producers (including 19 of the world's 20 largest steel companies), national and regional steel industry associations, and steel research institutes. worldsteel members produce around 85% of the world's steel.
· The projections forecast by worldsteel consider both real and apparent steel use. Apparent steel use reflects the deliveries of steel to the marketplace from the domestic steel producers as well as from importers. This differs from real steel use, which takes into account steel delivered to or drawn from inventories.
· The Short Range Outlook is provided by the worldsteel Committee on Economic Studies which meets twice a year. The Committee membership consists of chief economists from more than 40 of the worldsteel member companies. The Committee considers country and regional demand estimates to compile a global overview on apparent steel use (ASU). The Short Range Outlook is presented to the Board for their final review before publication.
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