Global steel demand is expected to reach 1,616.1 million tonne (MT) in 2018, according to World Steel Association (worldsteel).
In India, the demand is expected to accelerate gradually, mainly driven by public investment, worldsteel said in a report.
"worldsteel forecasts global steel demand will reach 1,616.1 MT in 2018, an increase of 1.8 per cent over 2017. In 2019, it is forecast that global steel demand will grow 0.7 per cent to reach 1,626.7 MT," it said.
T V Narendran, Chairman of the worldsteel Economics Committee said: "In the next couple of years the global economic situation is expected to remain favourable with high confidence and strengthening recovery of investment levels in advanced economies."
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