Steel Demand Continues To Slide
MEPS estimated global steel production in 2008 to have decreased 1.2% for the year as a whole. They also predicted a small reduction for 2009.
According to a MEPS forecast issued Jan. 21: “The steel market is forecast to remain weak during the first half of 2009 in all parts of the world. Demand for motor vehicles, home appliances and residential properties is likely to remain poor. However, a degree of inventory building should occur but to levels well below those in the first half of 2008. “Many governments are embarking upon plans to stimulate their economies through investment in large infrastructure projects. This is good news for the steel industry in the medium and long term. Unfortunately, this type of spending takes time to become effective.”