Report predicts iron and steel output growth
A
MEPS (International) product story
Edited by the Engineeringtalk editorial team
Mar 7, 2005
MEPS (International) predicts further growth in output of iron and steel over the next four years in its updated report "Global iron and steel production to 2008".
MEPS (International) predicts further growth in output of iron and steel over the next four years in its updated report "Global iron and steel production to 2008".
However, the company warns that the rate of expansion is likely to be at a much slower pace than in recent years.
MEPS expects crude steel production to move up steadily over the next few years to reach around 1.16 billion tonnes by 2008.
This represents an increase of 112 million tonnes over the four years from 2004 or an annual growth rate of 2.7%.
Pig iron making will increase at a similar rate over the forecast period, to reach more than 790 million tonnes in 2008.
Many of the countries with substantial rises in output have blast furnace/oxygen steelmaking as the favoured process.
According to MEPS, direct reduced iron will take an increasing share of the ferrous inputs for steel manufacturing in the future.
Countries in the Middle East, Africa, Asia and South America, particularly those with a plentiful supply of energy, will be consistently reporting higher production figures in the medium term.
DRI output in the world in 2008 is forecast at around 60 million tonnes - up by 12.2 million tonnes (25.5%) on the outturn in 2003.
MEPS reinforces its assertions from previous reports that growth in steel manufacturing in future years will move in tandem with increases in demand around the world.
A detailed analysis of the prospects in all the steel producing nations (over one million tonnes) highlights the improving activity in many emerging countries.
China's steel production in 2008 is expected to equate to almost 30% of global output but the rate of growth is predicted to slow as the government reigns in new investment in the industry.
Strong performances are anticipated from steelmakers in the former USSR, South America, and many Asian countries (excluding Japan).
The main losers in percentage terms will be the producers in the large industrialised areas, including the EU, NAFTA and Japan.
However, MEPS forecasts crude steel production expanding in all regions of the world in the period to 2008.
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