In its latest Short Range Outlook, published October 7th, Worldsteel revised its world apparent steel use for 2013 and 2014 upward. The revision increased estimated world steel consumption growth between 2012 and 2013 from 2.9% in its April Short Range Outlook to 3.1% in the recent published figures. In addition, its 2014 forecast for growth in apparent steel use increased from 3.2% in April to 3.3% in the latest bulletin. World apparent steel use is expected to be 1,475 million metric tonnes in 2013 and grow to 1,523 million tonnes in 2014.
Worldsteel currently estimates that China’s apparent steel use will grow by 6.1% in 2013, instead of by 3.6%, and by 3.0% in 2014 instead of 2.5%. However, the consumption growth rate in the rest of the word was revised downward to 0.6% in 2013 (from 2.5% in the April forecast) and to 3.6% in 2014 (from 3.8%). Of note: the European Union and NAFTA countries are expected to consume less steel than earlier forecasts in 2013, with the EU27 countries consumption down by 3.6% and NAFTA consumption flat.
See the spreadsheet below for all the Worldsteel Short Range Outlook figures published over the last few years.