ArcelorMittal predicts growth of steel consumption in the world in 2021 by 4.5-5.5%

ArcelorMittal, the largest steel company in the world, predicts growth in steel consumption in the world in 2021 by 4.5-5.5%, or 8.5-9.5%, excluding China.

“The quarterly results reflect a very positive market environment. Demand has returned to a higher level than we expected, with high supply chain inventories following significant temporary production cuts last year. (…) This year, we expect a rapid recovery in demand for steel. We expect global demand to be 4.5-5.5% in 2021 (8.5-9.5% excluding China). Of course, it is critically important that we are able to take advantage of such a strong market environment, ” – reported in the appeal of the general director of the company Aditya Mittal to employees at the end of the first quarter of this year, published in the corporate newspaper of PJSC “ArcelorMittal Kryvyi Rih” “Metallurg”.

At the same time, he noted that everyone wants to know how the current situation will last for a long time, but it is always very difficult to foresee the future, especially in metallurgy.

“However, we can say with confidence that risks remain even in the face of A stable market, but the company is well positioned and has a clear plan for the future. This plan focuses on the four priorities we identified in February: cost improvement; implementation of strategic growth initiatives; maintaining the stability of balance sheet indicators for sustainable income generation; and, crucially, sustainable development, “said the top manager.

According to Mittal, the company will also work on decarbonisation, which is now the most important issue in the field of sustainable development.

“During the quarter, we introduced the XCarb ™ brand to branding any ArcelorMittal product that can show real steps towards carbon neutral steel. XCarb ™ and XCarb ™ green steel recycling and remanufacturing certifications were well received by customers and confirmed the market demand for reduced carbon steel, ”he noted.

The CEO also clarified that the largest request is currently time is ticking from customers in Europe, but the company expects this trend to be supported in other regions as commitments to decarbonize the global economy by 2050 are increasing.For example, the restoration of US commitments under the leadership of President Biden, who made climate change a key priority for the administration and convened a meeting of 40 world leaders to accelerate its progress.

“This also applies to all ArcelorMittal assets. Given the uneven progress in the various regions where we operate, we must demonstrate: with the right political support, the metallurgical industry can decarbonize, “the CEO of the enterprise summed up.

As reported, the World Steel Association (Worldsteel) predicts that global steel consumption in 2021 will increase by 5.8% compared to the previous year – to 1.874 billion tons after a decrease in 2020 by 0.2% – to 1 billion 771.8 million tons.

” ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine. It specializes in the production of long products, in particular, rebar and wire rod.

ArcelorMittal owns the largest mining and metallurgical plant ArcelorMittal Kryvyi Rih and a number of small companies in Ukraine , in particular, PJSC “ArcelorMittal Berislav”.

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