CONF: Global steel demand to rise 4.1% on year in 2021

Steel demand worldwide is expected to strengthen 4.1% on year in 2021, with growth in Asia staying healthy and contributing to the bulk of the world’s total consumption, Frank Zhong, the chief representative of the World Steel Association’s Beijing office told delegates attending the Imports & Exports Forum of Mysteel’s Annual Summit on December 18.

Global steel demand next year is estimated to reach nearly 1.8 billion tonnes, among which the demand in Asia would account for 1.3 billion tonnes or 72.8%, up by 2.5% on year, Zhong declared. China has already surprised the world this year, as the country’s steel demand is expected to