The World Steel Association has released a short-term steel demand forecast report for April 2024, which predicts that global steel demand will rebound by 1.7% in 2024, reaching 1.793 billion tons; Global steel demand is expected to grow by 1.2% in 2025, reaching 1.815 billion tons. From 2024 to 2025, global steel demand will continue to grow.
As for China, the World Steel Association predicts that the demand for steel in China will remain roughly at the level of 2023 in 2024. Although the continuous decline in real estate investment has led to a corresponding contraction in steel demand, the growth in demand brought about by infrastructure investment and manufacturing will offset the decline in the real estate industry; In 2025, China's steel demand is expected to decrease by 1%, far below the peak demand in 2020.
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