Mena steel demand to grow by 0.6pct

12 Oct 2016

(MENAFN) Demand for steel in the MENA region will grow by 0.6 percent higher to 72.4mn metric tons this year.

Meanwhile, global steel demand will increase by 0.2 percent to a little more than 1.501bn metric tons in the same year.

Last year, Chinese demand contracted to 5.4 percent and witnessed more modest decline of 1 percent this year.

Moreover, world steel forecast a 10.4 percent drop for Central and South American consumption, with Brazil contracting by more than 14 percent.

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