World demand for steel in 2020 will decrease to 1.6 billion tons, WSA predicts

World steel demand in 2020 will decrease by 6.4% compared to 2019, to 1.654 billion tons, predicts the World Steel Association (WSA).

Demand will rebound slightly in 2021, reaching 1.717 billion tonnes (up 3.8% by 2020).

The fall in global steel demand this year will be partially limited by the faster recovery of the Chinese economy by compared to other countries.

“The COVID-19 crisis, with its disastrous consequences for public health, has also become a monstrous crisis for the global economy. Our customers have been affected by falling consumption, plant shutdowns and supply disruptions. We expect a significant drop in demand in most countries in the second quarter. With the easing of restrictive measures that began in May, we predict that the situation will gradually improve, but the pace of recovery will be slow, “said Chairman of the WSA Economics Committee Al Remeiti. which are given in the association’s message.

Top 10 countries in terms of steel consumption in 2019 (million tonnes):

According to p According to the WSA, the demand for steel in the EU countries this year will fall by 15.8% – to 133.1 million tons, and in 2021 it will increase by 10.4% – to 147 million tons. In the CIS countries, demand in 2020 will decrease by 10.3%, and in 2021 it will grow by 7.1%. The fall in demand in the Middle East this year will amount to 17.4% – to 40.2 million tons, in 2021 the increase will be 12.9%.

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