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Commodity Insights
Greater steel consumption in 2008

The following market information for purchasers is provided by www.propurchaser.com next day to its members. Visit www.propurchaser.com , e-mail info@propurchaser.com or call (416) 642-1438 for a free trial membership.

According to the International Iron and Steel Institute, global steel consumption will grow by a robust 6.7% in 2008 and another 6.3% in 2009. This translates to 1.282 billion tonnes this year (up from 1.201 billion tonnes in 2007) and 1.363 billion in 2009. Chinese demand is expected to grow by 11.5% in 2008, taking the country's share of world steel use to 35 per cent. China is already the world's biggest producer and consumer of the metal. North American demand is forecast to grow by 1.9% in 2008. To read more details, click on www.propurchaser.com/deeperInsights_out.aspx?id=138 .

 

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