MPI: Global And Domestic Steel Demand Forecast Moderate Increase In 2018

MPI: Global and domestic steel demand forecast moderate increase in 2018

Steel is often viewed as an economic barometer, since it is used in many important industries, including construction, machinery, carmaking, energy, shipbuilding, household appliances, railway tracks, containers and manufacturing etc. On the other hand, overall economic conditions worldwide and within a certain nation will also impact the demand and supply of steel and iron.

During the press event, MPI Vice President Xiao Bangguo analyzed both the favorable and unfavorable factors for the global and domestic economy, as well as for the steel industry. He believes 2018 will witness a continuous global recovery and the global economy can expect better growth, driven by the obvious recovery in the developed economies including the US, Canada, Euro-zone nations and Japan, etc., and the robust rise in the emerging and developing economies propelled by the mild increase in the bulk commodities’ price and success in internal adjustments of economy policies, etc.