Global steel industry poised for stable growth in 2018

The available commodity price indications suggest a gradual downward trend in global prices of iron ore, coking coal and scrap from the current level. This sounds good for the steel industry which sees uplift on the demand front. The short range outlook of WSA forecasts 1.8% growth in global steel consumption in 2018, led by India (5.5%), the US (2.7%), the EU (2.5%), Turkey (5%), Russia (2.1%) and South Korea (1%). China is also likely to consume similar volume of steel as in 2017.

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