The World Steel Association (Worldsteel) forecasts that the consumption in steels may decrease by 14.9 percent to around 1 billion tons globally this year.
Specially, United States may be the weakest and the demand could be down by 36.6 percent, followed by European Union, Russian Federation and Japan, which demand could drop by 28.8 percent, 23.1 percent and 20.4 percent respectively.
It seems that Brazil, India, China and Russia would be affected not that seriously but it could be also with a downturn rate of 5.9 percent in steel consumption. Expert believes that government’s new financial policies will directly determine the trend of steel market in the next half a year. Source:Yieh.com