WSD forecasts that the global metallics balance growth in 2013 will shift disproportionally as hot metal consumption growth outpaces demand for steel scrap. Assuming 1.57 billion mt of global steel production in 2013, 1.94 billion mt of metallics are required for crude steel and foundry production (up 1.5% year-over-year from 1.91 billion mt in 2012), of which:
- Pig iron/Hot metal accounts for 1.14 billion tonnes, up 3.1% year-over-year from 1.1 billion tonnes in 2012.
- DRI accounts for 74 million mt, up 1.3% year-over-year from 74 million mt in 2012.
- Steel scrap accounts for 732 million mt, down 0.8% year-over-year from 738 million mt in 2012.
Based on trends in blast furnace output through the first 6-months of 2013, hot metal production growth is on track to more than double the pace of crude steel production growth. This is largely the result of unbalanced growth in hot metal output relative to crude steel production in Advanced Countries, China and Developing World ex-China.
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