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Note: Data for 2017 and 2018 are foretasted values.
The World Steel Association (worldsteel) which publishes “Short Range Outlook (SRO)” is one of the largest and most dynamic industry associations in the world. worldsteel members represent approximately 85% of the world's steel production, including over 160 steel producers with 9 of the 10 largest steel companies, national and regional steel industry associations, and steel research institutes. According to the worldsteel forecasts global steel demand will reach 1,622.1 Mt in 2017 and 1,648.1 Mt. by 2018. In 2018, experts expect global growth to moderate, mainly due to slower growth in China, while in the rest of the world, steel demand will continue to maintain its current momentum which is rising. World steel demand is recovering well in developed and developing countries (Except MENA region and Turkey), driven largely by cyclical factors rather than structural.
China closed most of its outdated induction furnaces in 2017, a category which was generally not captured in official statistics. With closure of the induction furnaces, the demand from this sector of the market is now satisfied by mainstream steel makers and therefore captured in the official statistics in 2017. Consequently, the nominal growth rate for steel demand in China increased to 12.4% or 765.7 Mt. Disregarding this statistical base effect worldsteel expects that the underlying growth rate of China’s steel demand for 2017 will be 3%, which will make the corresponding global growth rate 2.8%.
Worldsteel’s Steel Statistical Yearbook presents a cross-section of steel industry statistics. It contains comprehensive statistics from (1991 - 2013) on crude steel production by process, steel production by product, steel trade by product, apparent steel use, and production of pig iron and directly reduced iron. It also includes data on production and trade of iron ore and trade of scrap as well as data on indirect exports and imports of steel and true steel use. The statistics were collected from members of worldsteel and various international organisations.
1) This dataset contains monthly blast furnace iron (BFI) and direct reduced iron (DRI) production data. The total for the year is not the sum of the 12 calendar months. This is because annual production is reported separately. Regional and grand totals refer to the countries listed only. Other countries report only annual - and not monthly - data.
2) World Steel Association collects Blast Furnace Iron production (BFI) from 39 countries and Direct Reduced Iron production (DRI) production from 14 countries . The 39 countries accounted for approximately 99% of total world BFI production and 14 countries accounted for 85% of total world DRI in 2015.