Steel demand will grow at a low rate

 

The recovery of steel demand in developing economies (excluding China) faces more challenges as the impact of the COVID-19 pandemic persists and inflation, and as a result, many emerging economies enter a tightening monetary cycle. Steel demand in developing economies (excluding China) increased by 10.7% in 2021 after falling by 7.7% in 2020, a figure slightly higher than the World Steel Association forecast. In 2022 and 2023, developing economies (excluding China) will continue to face challenges posed by the deteriorating external environment, the conflict between Russia and Ukraine, and the tightening of monetary policy in the United States, which will lead to developing economies (excluding China) steel Demand has grown at a low speed in the past two years, and is expected to grow by 0.5% and 4.5% respectively.

Wanhao is a manufacturer who is specialized in designing various kinds of furnace and making refractory products for electric furnace, ladle, tundish, blast furnace, AOD furnace, IF furnace, etc.

Article Source:Steel demand will grow at a low rate

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