The
US is one of the bright spots where the steel demand outlook is quite positive, said Jürgen Kerkhoff from the German Steel Federation (WV Stahl) who was speaking on October 11 at the 46th annual meeting of the World Steel Association (worldsteel) held in New Delhi.
Jürgen Kerkhoff said that the
US auto industry is one of the main drivers of the country's steel demand, and has even exceeded expectations, particularly after the squeeze observed after the big earthquake in Japan. Besides, expanding energy production and the moderate recovery of construction are both providing support for the growth of apparent steel usage in the
US.
Thus, after witnessing a year-on-year increase of 11.6 percent in its apparent steel demand in 2011,
US steel demand is forecast to rise by 8.3 percent this year to 96.5 million metric tons, and it is expected to grow further by 3.6 percent in 2013, reaching 100 million metric tons.
With its higher growth potential, at least as compared to the world average, the
US also seems to be leading NAFTA steel demand, which is foreseen to rise by 7.5 percent this year and by 3.6 percent next year, to 130.4 million mt and 135.1 million mt respectively.