MENA steel demand growth to be mostly driven by North Africa

Steel demand in the the MENA (Middle East and North Africa) region is expected to grow by 3.2 percent to 65.2 million metric tons in 2013, after 2.2 percent growth in 2012, aided by reconstruction activities in the Arab Spring countries and Iraq as political turmoil in the region phases out, according to the short range outlook of the World Steel Association (worldsteel). However, worldsteel has given no explanation for the downward adjustment in its steel demand growth forecast for the region, as the association had stated that it expected 6.7 percent growth in the region back in October last year, during its 46th annual meeting held in New Delhi.
 
In 2014, steel demand in the MENA region will further accelerate to 7.1 percent growth to reach 70 million metric tons, supported by strong construction activity.
 
Taking the Middle East on its own, steel demand is foreseen to rise by just 0.8 percent this year and by 6.1 percent in 2014, thus reaching 49 million mt in 2013 and moving up to 52 million mt in the following year. As these figures indicate, the 3.2 percent growth expected in MENA steel demand n 2013 is mostly fueled by the anticipated increase in steel demand in North Africa.