Short Range Outlook for Apparent Steel Demand 2007-2008
26 Mar 2007IISI has released its latest forecast of apparent steel demand for 2007 to 2008. The forecast was prepared by IISI’s Committee on Economic Studies and reviewed by the IISI Board of Directors at their meeting in Delhi on 25th March.
2006 was a particularly strong year for steel use with a growth of 8.5% for the world. The forecast is a growth of 5.9% in 2007 taking the total to 1,179 million tonnes, an increase of 65 million tonnes over 2006.
No deceleration in growth is foreseen in 2008 with a further increase of 6.1% bringing the total for the year to 1,250 million tonnes.
The particularly strong positive trend is foreseen for both years in Africa, Asia and South America. Growth continues in Western Europe and after an inventory draw down in 2007 in North America a positive trend is forecast in 2008.
REGIONS 2006 2007 2008 %
05/06%
06/07%
07/08EU-27 184.7 187.4 191.0 11.2 1.5 1.9 Other Europe 28.0 29.8 31.7 14.9 6.5 6.4 C.I.S. 48.4 51.3 54.4 12.9 6.1 6.0 N.A.F.T.A. 154.9 150.1 156.6 11.1 -3.1 4.3 Central and South America 36.0 38.2 40.5 11.7 6.1 6.0 Africa 21.6 23.1 24.9 9.7 6.9 7.8 Middle East 36.8 40.2 43.6 10.3 9.1 8.4 Asia 602.8 658.5 708.0 6.1 9.2 7.5 WORLD 1,113.2 1,178.6 1,250.5 8.5 5.9 6.1 China 356.2 402.5 442.8 9.0 13.0 10.0 Rest of the World 757.0 776.1 807.8 8.3 2.5 4.1 China remains the largest single market and the strongest growth area. Steel use will increase by 13% in 2007 followed by another 10% in 2008, taking the total to 443 million tonnes – 35% of the world total.
- 070326 Short Range Outlook 2007 2008.pdf
