The World Steel Association forecasts that apparent steel use will increase by 10.7% to 1,241 million metric tons (mmt) in 2010 after contracting by -6.7% in 2009. With these projections, world steel demand in 2010 will exceed the pre-crisis levels of 2007. In 2011, it is forecast that world steel demand will grow by 5.3% to reach a historical high of 1,306 mmt. The resilience of the emerging economies, especially China, has been the critical factor enabling the earlier than expected recovery of world steel demand.
- Published in How to Invest in the U.S.