Global finished steel consumption to increase by 6.2% in 2004
Global consumption of finished steel is expected to increase by 6.2% or 53 million mts in 2004 and by 4.5% or 41 million mts in 2005, according to the estimates made by Economic Studies Committee of the International Iron and Steel Institute (IISI). IISI split the growth into two separate areas, China and the Rest of the World (ROW). China's steel consumption is projected to increase by 13.1% in 2004 and by 10.4% in 2005. Steel consumption in the ROW is estimated to rise by 3.6% in 2004 and by 2.2% in 2005. Total steel consumption in Japan will surge from 71.7 million mts in 2002 to 73 million mts in 2005. Finished steel consumption in the rest of Asia, excluding China and Japan, is estimated to increase by 13 million mts from 142 million mts in 2002 to 155 million mts in 2005. Steel consumption in USA fell from 103 million mts in 2002 to 100 million mts in 2003, but it is expected to increase to 106 million mts in 2004 and 107 million mts in 2005.
Million metric tons Annual % change
Region 2002 2003 2004e 2005e 2002 2003 2004e 2005e
China 186 232 263 290 21.0 25.2 13.1 10.4
Japan 72 74 74 73 -2.0 2.9 0.3 -1.4
Other Asia 142 147 151 155 11.9 3.5 2.6 2.7
EU-15 139 140 143 146 -1.2 0.9 2.3 1.9
Other Europe 38 42 44 45 4.7 11.2 3.9 4.0
CIS 30 31 32 33 -3.0 2.7 2.6 2.3
NAFTA 133 131 139 141 2.3 -1.7 6.0 2.0
S.America 27 28 31 33 -3.2 2.2 11.7 5.9
Africa 17 17 18 19 7.0 -1.5 7.3 2.4
Middle East 21 22 22 23 10.6 3.0 3.1 3.0
World 805 864 917 958 6.6 7.3 6.2 4.5