Demand growth will declin­e to 1.3% in 2019 and 1% next yearLONDON: Growth in global steel demand will weaken over the next two years because of slowing economies, sluggish manufacturing in China and the Sino-US trade war, the World Steel Association (worldsteel) said on Tuesday. Demand growth will decline to 1.3% in 2019 and 1% next year, following 2018’s 2.1%, the association said. “In 2019 and 2020, global steel demand is expected to continue to grow, but growth rates will moderate in tandem with a slowing global economy,” said Al Remeithi, Chairman of the worldsteel economics committee. Worldsteel pegged demand this year at 1.735 billion tonnes, followed by 1.752 billion tonnes in 2020. Demand in 2018 and 2019 was cushioned by mild government stimulus in China, worldsteel said.

Source: The Express Tribune April 17, 2019 03:33 UTC