Forecast overview of 2019 / 2020 regional steel demand from World Steel Association

The World Steel Institute released its short-term outlook (SRO) for 2019 and 2020 on October 14. It is predicted that in 2019, China's steel demand will increase by 7.8% to 901 million tons, and the rest of the world's steel demand is expected to increase by 0.2% to 874.9 million tons.

China's steel demand is expected to grow by 1.0% in 2020. Steel demand in the rest of the world is expected to grow by 2.5% driven by 4.1% growth in steel demand in emerging and developing economies (excluding countries).

The global steel demand will increase by 3.9% in 2019 to 1775 million tons, and 1.7% in 2020 to 1805.7 million tons.

Iron ore is expected to increase global iron supply by 2.4% and global pig iron production by 1.5% in 2020.