Commodity Market Report
Global steel investment horizon outlook - Q3 2023
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Report summary
Global steel demand in 2023 is slated to dip marginally year-on-year. The Chinese construction sector continues to grapple with difficulties, even as the government strives to revive the economy. On the other side of the globe, elevated inflation and interest rates have suppressed European steel demand. India's robust double-digit growth driven by pre-election spending will counterbalance these declines. In 2024, a more optimistic scenario is on the horizon. Steel demand is forecast to rise 2% year-on-year as macroeconomic conditions improve. Long-term growth will rely on emerging economies in the Asia Pacific and South America, while decarbonization initiatives will reshape supply and alter material choices. Over the next decade, the steel industry is poised to make substantial investments totalling US$ 842 billion. The steel market's investment horizon outlook provides a comprehensive analysis, including demand-supply dynamics, price forecasts, and investment prospects up to 2050.
Table of contents
- Demand
- Supply
- Prices
- Investment
Tables and charts
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