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Home > News > Forecast: 2020 global steel demand is about 1.802 billion tons, a year-on-year increase of 1.2%

Forecast: 2020 global steel demand is about 1.802 billion tons, a year-on-year increase of 1.2%

2019-12-19PV:1110

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On December 12, the Metallurgical Industry Planning and Research Institute released forecast results showing that China's steel consumption in 2019 is expected to be 886 million tons, a year-on-year increase of 7.3%; China's steel demand in 2020 is expected to be 881 million tons, a 0.6% year-on-year decrease.

 The above forecast results are made by the metallurgical industry planning research institute using the steel consumption coefficient method and the downstream industry consumption method, and the results obtained by the two methods are weighted.  The institute has released the forecast results of steel demand for 11 consecutive years, and the forecast values for many years are in good agreement with the actual values.

 Regarding the global steel demand situation, the forecast results released by the Metallurgical Industry Planning and Research Institute show that global steel consumption in 2019 is about 1.781 billion tons, a year-on-year increase of 4.1%; in 2020, global steel demand is about 1.802 billion tons, a year-on-year increase of 1.2%.