Global #apparent #steel use by US, #China, India and Latin America to increase
In its April 2012 outlook report for 2012 and 2013, The World Steel Association reported that apparent steel use in United States (5.7%), China (4%), India (6.9%) and Central and South America (6.8%) would rise in 2012 while use in EU and Japan would decline due to Eurozone woes and exchange rate appreciation respectively.
Other regions forecast to increase apparent steel use includes CIS (4.1%) and MENA (5.7%) with global apparent steel use to rise by 3.6% in 2012. Despite the solid growth of world steel demand anticipated in 2012, uncertainties such as a worsening euro debt crisis, high oil prices and geopolitical tensions in oil producing regions and the possibility of a hard Chinese landing remain significant downside risks.
Interestingly, The World Steel Association forecast that by 2013, the emerging and developing economies will account for almost 75% of the world’s demand for steel, in sharp contrast to 61% in 2007.
With speakers coming from Africa, Central Asia, Europe, India, China, USA, Latin American, Japan etc, the 8th World Scrap Metal Congress 2012 promises to provide illuminating insights to the global scrap metal markets. Download the draft agenda here to get a sneak peak for the event!