World Steel Association Provides Short-Range Outlook
China’s apparent steel use in 2010 is expected to increase by 6.7% to 579 mmt after the impressive increase of 24.8% in 2009. In 2011, China will account for 45.5% of world apparent steel use. In the NAFTA region, apparent steel use in the U.S. fell by -41.6% in 2009 and recorded 57.4 mmt. With the recovery in the U.S. economy and stock rebuilding, apparent steel use is expected to grow by 26.5% in 2010 and then 7.5% to 78.1 mmt in 2011, bringing its apparent steel use back to the level of 1991.