It is no secret that industrial gas plays a figurative role in the steel and metallurgy sectors. Indeed, in terms of importance it really can be dubbed the ‘silver sector’.
With that in mind, new short range forecasts by The World Steel Association, predicting record highs for this end-user segment, are nothing but a cause for celebration.
Just yesterday, the World Steel Association predicted global steel demand to rise to a record 1,441 billion tons next year. Moreover, demand in emerging countries during 2012 is expected to be well above pre-crisis levels. When delivering the announcement, Daniel Novegil, Chairman of the worldsteel Economics Committee explained that predictions are based on stable and steady recovery of the world economy.
A breakdown of results reveals disparities between geographical economies. According to the association, steel use will increase by 5.9% globally during 2011 and a further 6% in the subsequent 2012. Though 2012 will see steel use in the developed world 14% below 2007 levels, emerging and developing economies portray a far better picture, with growth 38% above pre-crisis levels.
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