Global finished steel consumption to increase by 6.2% in 2004

Tuesday, 11 May 2004 10:23:19 (GMT+3)   |  
       

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 

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