Global steel sector crisis fading
The global steel sector crisis that prompted high profile plant closures and job losses last year is easing, with demand set to grow this year and next, the World Steel Association (Worldsteel) told.
In 2017, it expects global steel demand to grow 0.5 percent year on year to 1.510 billion tonnes while this year, Worldsteel sees demand up 0.2 percent to 1.501 billion tonnes.
"Global steel demand is through the bottom of this cycle," said Worldsteel, citing a better than expected outlook for China and Russia and strong growth in emerging Asian economies excluding China.
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