Forecast of global steel demand from 2023 to 2024

According to the latest short-term (2023-2024) steel demand forecast report released by the World Steel Association today, global steel demand will rebound by 2.3% to 1.8223 billion tons in 2023.

In 2024, global steel demand will increase by 1.7% to reach 1.854 billion tons. It is expected that the manufacturing industry will lead the recovery of steel demand, but high interest rates will still put pressure on steel demand. It is expected that steel demand in most regions will accelerate next year, but China's steel demand will slow down.