Giving the opening address at the 52nd annual meeting of worldsteel (World Steel Association) held in Tokyo on October 16-17, Dr. Edwin Basson, director general of worldsteel, stated that the world steel industry is at a very interesting point going forward, with the industry having recorded eight percent growth over last year in terms of turnover, which a function of both value and volumes.
Japan and North Asia have been at the center of developments over the past year, the worldsteel general director affirmed. He went on to say that the challenge for the steel industry is how to remain sustainable in the future. In particular, the industry has to meet challenges relating to financial sustainability and the environment. One of the main focuses in terms of industry sustainability is on the development of new market applications into the future.
Opening the conference proceedings on an optimistic note, Dr. Basson summed up by stating the situation in the steel industry is beginning to appear much better around the world.