According to EUROMETAL, world apparent steel consumption is expected to increase by 5.3 percent year on year in 2011, with this growth rate down 7.8 percentage points compared to the 13.5 percent increase recorded in 2009, due to a decrease in inventory replenishment activities.
Preliminary 2010 data have been compared to EUROMETAL's predictions for 2011 as follows:
Region |
2010/2009 change (%) |
2011/2010 change (%) |
EU-27 |
+19 |
+6 |
NAFTA |
+31 |
+9 |
CIS |
+26 |
+11 |
CHINA |
+7 |
+4 |
MIDDLE EAST |
+8 |
+4 |
PACIFIC ASIA |
+9 |
+4 |
REST OF EUROPE |
+20 |
+10 |
LATIN AMERICA |
+28 |
+9 |
AFRICA |
+5 |
+7 |
Meanwhile, European steel consumption in 2010 totaled 139 million mt and may rise to 147 million mt in 2011. Both figures are far below the 171 million mt recorded in 2008.