World Steel Association’s Short Range Outlook

Steel

Global steel demand is projected to drop by 6.4% year-on-year to 1,654 Mt in 2020 in the World Steel Association’s Short Range Outlook (SRO). However, this fall will be softened by recovery in China, where steel demand is expected to edge up by 1% to 917 Mt. The SRO assumes lockdown measures continue to ease in June-July and that there is no substantial second wave of the coronavirus in major steel-producing countries. Global demand is anticipated to grow by 3.8% in 2021.