WSA Forecasts Global Steel Growth in 2020
By Metal Center News Staff
on Oct 14, 2019
The Brussels-based World Steel Association projects modest growth in North America in steel production in 2020 in its Short Range Forecast. The organization expects to see 0.8 percent growth in 2020 to 142.6 million tons. The group projects production in 2019 to finish up 0.6 percent to 141.5 million tons.
Overall, WSA anticipates global growth of 2.5 percent in 2020, with China leading the way. Chinese production is expected to grow 1 percent, following 7.8 percent growth in 2019 that will push Chinese production above 900 million tons.
Production in the rest of the world excluding China is expected to be up 2.5 percent in 2020, driven by 4.1 percent growth in the emerging and developing economies. All regions of the world are forecast to experience growth next year by WSA.