Steel demand increase in CIS to slow down this year

Growth of apparent steel use in the CIS region is projected to slowdown to two percent this year, totaling 57.6 million metric tons, as the modest pickup in Russia is partially mitigated by declining demand in Ukraine and Kazakhstan, according to the short range outlook of the World Steel Association (worldsteel). Last year, apparent steel demand in the CIS had increased by 3.3 percent.
 
In 2014, steel demand in the region is expected to grow by 3.8 percent to 59.8 million metric tons with the improving external environment. The resumption of energy projects and the improving construction outlook is expected to support steel demand in Russia, according to worldsteel.
 
In Russia, in particular, it is forecast that steel demand will grow by 2.6 percent to 42.9 million metric tons in 2013 and will grow further by 3.9 percent to 44.6 million metric tons in 2014.