IISI offers short range outlook for apparent steel demand.
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Press Release Summary:
Prepared by IISI's Committee on Economic Studies, forecast expects growth of 5.9% in 2007 taking total to 1,179 million tons. Further increase of 6.1% in 2008 will bring total for year to 1,250 million tons. Strong positive trend is foreseen for both years in Africa, Asia, and South America. Growth continues in Western Europe and, after inventory draw down in 2007 in North America, positive trend is forecast in 2008. China remains strongest growth area.
Original Press Release:
IISI Short Range Outlook for Apparent Steel Demand - 2007-2008
Delhi, 26 March 2007 - The International Iron and Steel Institute (IISI) has released its latest forecast for apparent steel demand for 2007 to 2008. The forecast was prepared by IISI's Committee on Economic Studies and reviewed by the IISI Board of Directors at their meeting in Delhi on 25 March 2007.
2006 was a particularly strong year for steel use with a growth of 8.5% for the world. The forecast is a growth of 5.9% in 2007 taking the total to 1,179 million tonnes, an increase of 65 million tonnes over 2006.
No deceleration in growth is foreseen in 2008 with a further increase of 6.1% bringing the total for the year to 1,250 million tonnes.
The particularly strong positive trend is foreseen for both years in Africa, Asia and South America. Growth continues in Western Europe and after an inventory draw down in 2007 in North America a positive trend is forecast in 2008.
China remains the largest single market and the strongest growth area. Steel use will increase by 13% in 2007 followed by another 10% in 2008 taking the total to 443 million tonnes - 35% of the world total.
Table 1: Apparent Steel Use 2005 - 2007
Million metric tons finished steel Change % per year
2006 2007 2008 2005/2006 2006/2007 2007/2008
EU (27) 184.7 187.4 191.0 11.2 1.5 1.9
Other Europe 28.0 29.8 31.7 14.9 6.5 6.4
CIS 48.4 51.3 54.4 12.9 6.1 6.0
NAFTA 154.9 150.1 156.6 11.1 -3.1 4.3
Central/South America 36.0 38.2 40.5 11.7 6.1 6.0
Africa 21.6 23.1 24.9 9.7 6.9 7.8
Middle East 36.8 40.2 43.6 10.3 9.1 8.4
Asia 602.8 658.5 708.0 6.1 9.2 7.5
World 1,113.2 1,178.6 1,250.5 8.5 5.9 6.1
China 356.2 402.5 442.8 9.0 13.0 10.0
World (exc. China) 757.0 776.1 807.8 8.3 2.5 4.1
