The international iron and Steel Association raised demand growth expectations i

                                                                                    INQUIRY

      The International Iron and Steel Association (WSA) on Tuesday doubled global steel demand growth expectations for 2018 and 2019, but warned that trade tensions cast a shadow on demand prospects.
The International Iron and Steel Association said at its annual meeting in Tokyo that steel demand is expected to increase by 1.4% to 1.681 billion tons next year. The increase is two times the expected 0.7% in April.
But this growth rate is still lower than the expected growth rate in 2018. Driven by China, the world's largest steel consumer, global steel demand is expected to increase by 3.9% to 1.658 billion tons in 2018. The international iron and Steel Association said in April that steel demand in 2018 was 1.8% higher than that of last year.
Trade tensions between China and the United States, coupled with capital outflows from Indonesia and other countries, cast a shadow over the global economic outlook.
"Global steel demand is facing the risk of uncertainty brought about by the tense global economic environment," the International Iron and Steel Association said.
The association said it expects steel consumption in China to increase by 6% to 7.81 billion tons this year and will remain unchanged in 2019.
"China's steel demand growth is expected to slow in the absence of stimulus measures," the International Iron and Steel Association said.


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