Global steel demand growth to dip in 2016, hit by China: Worldsteel

[LONDON] Global steel demand is due to fall this year, driven by a slowdown in China, but will stabilise in 2017, the World Steel Association said on Wednesday.

Global apparent steel use is forecast to fall by 0.8 per cent in 2016 to 1.488 billion tonnes, before rising by 0.4 per cent next year to 1.494 billion tonnes, according to Worldsteel.

Steel use in China is expected to fall by 4 per cent this year and shrink by 3 per cent in 2017, the group added.

REUTERS