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| World's 2006 Steel Demand To Rise By 4.6% To 978M Tons: JISF Survey |
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The world's demand for steel mill products is estimated to total 978 million tons in 2006, up 4.6% or 43 million tons from a year ago, according to a survey by the Japan Iron & Steel Federation. The survey covered the world's 23 nations and one bloc or the 25-member European Union. JISF describes the findings of the survey as follows. emand prospects China will continue to mark the largest increase of demand in the world in 2006, even though its apparent consumption is expected to show slack growth of 7.3% or 27 million tons. Meanwhile, there are prospects of flat or somewhat increased demand in other nations and areas except China. In the EU, demand in 2006 will increase by 2.5% or 3.9 million tons after a fall of demand in 2005. Also, there are prospects of increased demand by 2-3 million tons in 2006 in ASEAN (six nations), India, and Russia thanks to favorable economic conditions at home. Demand in 2006 is forecast to increase slightly or level off as to South Korea, Taiwan, and the USA, with a slight decrease of demand in Brazil. As a result, demand in the nations and bloc surveyed is estimated to total 579 million tons in 2006 except China, up 2.3% or 16 million tons from a year ago. World's crude steel production The world's crude steel production from the nations and bloc surveyed is estimated to total 106.83 million tons in 2006, up 5.4% or 51.61 million tons from the level of a year ago. In Asia, China's crude steel production is forecast to increase by 11% from a year ago to 385 million tons in 2006 because of favorable domestic demand and increased production capacity although a major increase of production will be held in check by measures under the government's steel industry development policy. In other nations, crude steel production in 2006 is expected to decrease in South Korea and Singapore, while there are forecasts of higher production levels in 2006 than the year before in the West in the wake of an improved supply-demand balance there. World's steel exports The world's exports of various steel products from the nations and bloc surveyed are estimated to total 210.5 million tons in 2006, up 2.8% or 5.7 million tons from a year ago. There are prospects of a global upswing of demand for steel products in 2006 as inventory adjustment phases are over in the steel markets of Europe and North America despite moves toward steel import restrictions in some destinations on shipments from CIS and China. Among the nations and bloc concerned, steel exports out of Russia and the EU in 2006 are forecast to exceed the levels of a year ago thanks to a global recovery of demand. China is expected to struggle for the avoidance of trade friction in its steel exports in 2006 as export pressure continues strong on its steel production. As to South Korea and Taiwan, their steel exports are expected to increase in 2006 for shipments to neighboring Asian nations as favorable demand prevails there. Meanwhile, there are prospects of less steel exports out of the USA and Canada in 2006 than the year before as domestic demand is heading for a recovery in both nations. World's steel imports The world's imports of various steel products are estimated to total 198.8 million tons in 2006, down 1.9% or 3.8 million tons from a year ago. With an upswing in the world's economy and steel demand, there are forecasts of increased steel imports in many nations and areas in 2006. In Asia, though, China's steel imports are expected to fall considerably in strong uncertainties over domestic steel market conditions with no signs of a fast recovery. |
| last modified : Thu 26 Jan, 2006 [10:38] |
