Worldsteel Short Range Outlook
In its October Short Range Outlook, worldsteel forecasts that Chinese steel demand in 2019 will grow at a rate of 7.8% year-on-year. However, growth is expected to slow significantly in 2020, with worldsteel projecting demand to increase by just 1.0% on an annual basis. Meanwhile, Indian steel demand is forecast to climb 5.0% in 2019, then by a further 7.0% in 2020.
By contrast, steel demand in Germany (-6.0% to 37.2 Mt) and Turkey (-14.5% to 26.1 Mt) is expected to decrease in 2019 before regaining growth next year. US demand is projected to rise by 1.0% this year, before slowing to 0.4% in 2020.