Commodity Market Report

Global Steel Strategic Planning Outlook – Q2 2024

Get this report*

$10,000

You can pay by card or invoice

For details on how your data is used and stored, see our Privacy Notice.
 

- FAQs about online orders
- Find out more about subscriptions

*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

The prolonged property crisis continues to drag China in the first half of 2024, while other major economies show relatively strong steel demand recovery, with India taking the lead followed by the West. Looking forward, we expect a stronger demand growth at 2.8% in 2025. Easing inflationary risks and lower interest rates will benefit the West. India and Southeast Asia will enjoy healthy growth on account of population expansion and urbanization. On the flip side, only marginal improvement is expected in China as the economy is less dependent on the housing sector, and the total steel demand will be on a downward trajectory impacted by the weakening demographics. Over the long term, China will be a growth deterrent. Global growth will piggyback on robust demand momentum from emerging economies in India and Southeast Asia. Driven by decarbonisation, rising EAF share and increased preference for scrap and DRI will bear on iron ore demand in the long term.

Table of contents

  • Demand
  • Supply
  • Prices

Tables and charts

No table or charts specified

What's included

This report contains:

  • Document

    Global Steel Strategic Planning Outlook Q2 2024.pdf

    PDF 2.04 MB