India’s Steel Demand Expected To Move Back Higher

In its October 2018 Short Range Outlook, worldsteel said it projects global steel demand at 1,657.9 million tonne (MT) in 2018, an increase of 3.9 % over 2017. The demand for steel in the developed world remains healthy, while in the developing countries steel demand will continue to recover amid challenges. The demand will be supported by improving investment and infrastructure programmes, worldsteel said adding the stressed government finances and corporate debt weighs on the outlook.
Demand in the ASEAN region is expected to resume its growth momentum backed by infrastructure programmes in 2019 and onwards. Risks are largely related to rising trade tensions between the US and China, currency volatilities and political instability. Steel demand in developing Asia excluding China is expected to increase by 5.9 % and 6.8 % in 2018 and 2019, respectively.