China steel demand to rise 3.1% in 2013, CISA says

Steel demand in China will grow by 3.1% in 2013, up from a 2.5% growth rate in 2012, according to the China Iron & Steel Assn (Cisa).

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

China’s economy is recovering after Beijing introduced a series of policies to maintain stable growth, but steel prices will still be volatile as demand improves, the group said.

“Steel demand this year will be better than last year, but overcapacity and oversupply problems have no obvious improvement, and steel prices will find it hard to rise significantly,” Cisa said.

Official Chinese data showed that the country’s GDP increased by 7.8% in 2012, and its annual crude steel output reached a record of 716.5 million tonnes.

Worldwide steel demand in 2013 is expected to rise by 3.2%, according to forecasts from the World Steel Assn.

What to read next
Following a six-week consultation period, Fastmarkets can confirm it will amend the calculation method for all the average functions on the Fastmarkets platform from Wednesday March 1, 2023.
Consolidation, the recycling of electric vehicle batteries, US steel exports and the benefits of sustainable steelmaking were key talking points at Fastmarkets’ Scrap & Steel 2023 conference in Dallas in January
Green shoots of increased demand will emerge in US ferrous markets courtesy of the Biden administration’s trillion-dollar infrastructure package in 2023, Schnitzer’s executive vice president and chief strategy officer Richard Peach said at Fastmarkets’ Steel and Scrap Conference 2023 in Dallas, Texas
US special bar quality steel prices rose in January in line with rising scrap and alloy costs, according to market participants
European metal industry association Eurometaux has called on the European Commission to follow the lead shown by the Inflation Reduction Act and deliver a “powerful” policy to support the industry in the EU while it tries to keep up with the move to a new generation of energy markets
The fallout from Russia’s invasion of Ukraine is changing global trade flows for bauxite, with Brazilian material once again flowing into China and with the introduction of export restrictions elsewhere likely to influence availability through 2023
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.