World Steel Association (WSA) announced on Wednesday world apparent steel consumption is forecasted to increase by 5.4% to 1.4736 billion tonnes in 2012 from 2011. Steel demand is expected to keep plus growth in emerging countries mainly in China and India. Meanwhile, WSA explained the apparent consumption is expected to keep uptrend in the first half year but may downturn in the second half year due to negative factors such as aftermath of Japanese Great Earthquake and financial crisis concerns in Europe. WSA also suggested raw material supply would tighten against the demand growth, especially for coking coal. Chinese apparent steel consumption was forecasted to increase by 6.0% to 681.6 million tonnes in 2012 from 2011. The year-to-year growth rate would narrower from 8.5% in 2010 and 7.5% in 2011.
Apparent steel consumption in the other areas than China was forecasted to increase by 5.0%. The consumption is expected to increase by 6.4% in BRICs and by 7.9% in India. Among developed countries, the demand would increase by 2.5% in EU and by 4.9% in North America. Japanese steel consumption is forecasted to increase by 0.8% to 62.3 million tonnes. World steel consumption in 2011 is estimated to increase by 6.5% to 1.3975 billion tonnes from 2010. Steel consumption would increase by 7.5% in China while increase by 7.5% in the other areas, for instance, 7.2% plus in BRICs and 4.3% plus in India. The demand is likely to increase by 7.0% in EU, by 9.0% in North America while to decrease by 2.7% to 61.8 million tonnes in Japan.
