Global steel demand is expected to inch down by 0.9% to 1.751 mnt in CY’24 but rebound by 1.2% to 1.772 mnt in CY’25, according to the World Steel Association’s (WSA) short-range outlook, released in Oct’24. The key factors influencing this trend are gradual stabilisation in China’s real estate sector, interest rate adjustments, and increased infrastructure spending on decarbonisation and digital transformation.
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