World Steel Association: Except For China, Global Demand Is Almost Stagnant This Year

Recently, the World Steel Association (WSA) released the "Short Term Outlook" (SRO) report, which predicts that global steel demand will be almost stagnant this year, except for China, and warned that there will be downside risks in the future. WSA expects China's demand to grow by 7.8% this year, which is basically the same as 7.9% in 2018, but next year's growth rate will drop to 1%, still higher than the forecast in April. At that time, WSA predicted that with the effects of economic stimulus measures subsiding, China's steel demand will be slightly reduced in 2020. In addition to China, the association expects demand for finished steel in other regions to grow only 0.2% this year, lower than the previous estimate of 1.7%; global demand is expected to slow this year from 4.6% in 2018 to 3.9%. According to Hong Kong's "News" report, steel companies are facing demand and prices falling this year as global manufacturing is weak and trade conflicts remain unresolved. Among them, the EU steel enterprises were the most affected, and European steel companies accused the United States of increasing tariffs, resulting in low-cost steel influx into Europe, causing the local steel industry to fall into crisis. (Source: Observer Network)