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Kallanish Kallanish

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July, 4th 2020

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Kallanish Steel Weekly: Worldsteel revises 2019 downward, China growth spurt expected (April 9, 2019)

Global steelmakers’ association worldsteel expects to slightly reduce its growth forecast for steel demand for 2019 as market uncertainties continue. This was revealed by the association in a presentation during the latest meeting of the OECD Steel Committee in Paris last week.

In October 2018, worldsteel announced that 2019 steel demand would grow by 1.4% year-on-year, following 3.9% y-o-y growth in 2018. The association will issue its new outlook in April, in which it will revise downwards its previous forecast for 2019.

Without specifying numbers, the association says that the outlook for global demand in 2019 will be revised down, while some other regional outlooks will also be amended. Some of these may see a reversal in direction.

worldsteel had previously issued an outlook for 2019 of no growth for China, but the latest revision is expected to include an outlook revised upwards. Similarly, positive changes are expected regarding CIS steel demand, which is expected to grow more than the previously anticipated 0.9% y-o-y in 2019.