On April 14, the World Steel Association (hereinafter referred to as the World Steel Association) released the latest short-term steel demand forecast report (2022-2023). The report shows that global steel demand will continue to grow by 0.4% in 2022 to 1,840.2 million tons, following a 2.7% increase in 2021. In 2023, global steel demand will continue to grow by 2.2% to 1,881.4 million tons. The World Steel Association said that in the context of the Russian-Ukrainian conflict, there is a high degree of uncertainty in the current forecast results.
Commenting on the results of the forecast, Máximo Vedoya, chairman of the World Steel Association's Market Research Committee, said: "In 2021, despite the supply chain crisis and repeated rounds of the new crown pneumonia epidemic, many global However, due to the slowdown of China's economy, the growth rate of global steel demand will decrease in 2021. There is still a high degree of uncertainty about the changes in steel demand in 2022 and 2023. The steel demand of the World Steel Association continues to be stable. Hopes for recovery have been shaken by the Russian-Ukrainian conflict and global inflation."
