worldsteel: Steel Reverses Demand Destruction in 2025
By
Dan Markham on
Oct 22, 2024
As we wind down the final days of 2024, it’s already time to start looking ahead to what 2025 will hold. For the steel industry, it looks a little better, at least if the folks at worldsteel are correct.
The Brussels-based steel association expects that global steel demand will increase in 2025 after three straight years of decline. The increases will take place all over except at the planet's largest producer. worldsteel anticipates China’s real estate troubles are expected to continue into next year, calling for a 1 percent decline in 2025 following the 3 percent drop this year.
The U.S. will not experience robust growth next year, but the steel organization is anticipating a modest increase in demand, as it does for Japan and Germany.
The developing world will enjoy the most growth next year, with India continuing its recent demand strength into 2025.
For more on worldsteel's Short Range Forecast, see here.