The International Iron and Steel Institute (IISI) has said that world steel demand is expected to rise 5.9 percent year on year from 1.113 billion metric tons in 2006 to 1.179 billion metric tons in 2007.
The IISI also predicted 6.1 percent growth in steel demand for 2008, which would represent an increase to 1.250 billion metric tons.
Apparent Steel Consumption
Million mts of finished steel | Change % year on year | ||||
2006 | 2007 | 2008 | 05-06 | 06-07 | |
EU 27 | 184.7 | 187.4 | 191.0 | 11.2 | 1.5 |
Other Europe | 28.0 | 29.8 | 31.7 | 14.9 | 6.5 |
48.4 | 51.3 | 54.4 | 12.9 | 6.1 | |
NAFTA | 154.9 | 150.1 | 156.6 | 11.1 | -3.1 |
Central/S.America | 36.0 | 38.2 | 40.5 | 11.7 | 6.1 |
21.6 | 23.1 | 24.9 | 9.7 | 6.9 | |
36.8 | 40.2 | 43.6 | 10.3 | 9.1 | |
Asia | 602.8 | 658.5 | 708.0 | 6.1 | 9.2 |
World | 1,113.2 | 1,178.6 | 1,250.5 | 8.5 | 5.9 |
356.2 | 402.5 | 442.8 | 9.0 | 13.0 | |
World (exc.China) | 757.0 | 776.1 | 807.8 | 8.3 | 2.5 |