China’s steel demand in 2013 is expected to increase by 3.1 percent year on year, with this growth rate up 0.6 percentage points compared to 2012, according to a report released by the China Iron and Steel Association (CISA) on January 21.
Meanwhile, the CISA also predicted that global steel demand will rise by 3.2 percent in 2013 compared to last year due to expectations of an improvement in economic conditions in the current year.
The CISA said that the rebound of raw material prices has boosted domestic steel prices since the start of the year, adding that there may be more support for steel price increases if steel inventories decline.