In April and October, worldsteel announces its short range outlook (SRO), a forecast for apparent steel use. The April SRO looks seven quarters ahead and the October SRO, which is announced at worldsteel's annual conference, looks five quarters ahead.
worldsteel projections consider both real and apparent steel use. Apparent steel use reflects the deliveries of steel to the marketplace from the steel producers as well as from importers. This differs from real steel use, which takes into account steel delivered to or drawn from inventories.
Source: worldsteel press release, 16 October 2017