Global steel demand will rebound by 1.7 percent in 2024 to 1,793 million tonnes, the World Steel Association forecast in its Short Range Outlook released on 9 April. Demand is expected to grow a further 1.2 percent in 2025 to 1,815 million tonnes, after two years of negative growth and severe market volatility since the pandemic. China, the world's largest steel consumer, is expected to see demand stay roughly at its 2023 level this year, with lower real estate demand offset by infrastructure investment and manufacturing. India is forecast to remain the strongest driver of growth, with demand rising 8 percent in both 2024 and 2025 on infrastructure spending. Demand outside China is expected to grow by 3.5 percent a year in 2024 and 2025, while demand in the developed economies is forecast to rise 1.3 percent in 2024 and 2.7 percent in 2025.
Source: SteelOrbis — https://www.steelorbis.com/steel-news/latest-news/worldsteel-global-steel-demand-to-rise-17-percent-in-2024-1335696.htm
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