NEWS
worldsteel
reports
positive
outlook
The World Steel Association
(worldsteel) has published the
2018 edition of World Steel
in Figures, highlighting the
steel sector’s international
performance.
www.saroofing.co.za
T
he World Steel in Figures publication provides a
comprehensive overview of steel industry activities,
stretching from crude steel production to apparent
steel use, from indications of global steel trade flows to iron
ore production and trade.
“To say that the steel industry is experiencing interesting
times would be an understatement. However, progress is
being made at various levels,” says Dr Edwin Basson, director
general of worldsteel.
“At the recent meeting of the Global Forum for Steel Excess
Capacity (GFSEC), a G20 initiative, six important principles
were agreed by ministers of G20 countries, which are focused
around ensuring a level playing field exists for steelmakers in
all countries and that markets should remain free and fair for
steel to be traded between countries,” highlights Basson.
Basson says he is hopeful that the positive outlook for steel
demand will remain. “The short-range outlook for the next 18
months suggests 2018 growth of 1.8% followed by 0.7% in
2019,” he points out.
He continues, “Steel demand is benefitting from the broad
and favourable global economic momentum affecting both
the developed and developing world at the same time. The
worldsteel programmes in the automotive, construction,
packaging and rail sectors all aim to maintain the role of
steel as a versatile product without which modern society
cannot remain sustainable.”
Regarded as one of the largest global trade bodies for the
iron and steel industry, worldsteel serves its vast roster of
members who represent about 85% of the world’s steel
production, including more than 160 steel producers with
nine of the 10 largest steel companies, national and regional
steel industry associations and steel research institutes.
CLADDING // CONCRETE // INSULATION // STEEL // THATCH // TIMBER // TRANSLUCENT // WATERPROOFING // COMPONENTS
NOVEMBER 2018
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