{"id":8502,"date":"2024-11-06T17:17:12","date_gmt":"2024-11-06T17:17:12","guid":{"rendered":"https:\/\/www.h-metal.ro\/blog\/?p=8502"},"modified":"2024-11-06T17:17:13","modified_gmt":"2024-11-06T17:17:13","slug":"global-steel-industry","status":"publish","type":"post","link":"https:\/\/www.h-metal.ro\/blog\/en\/global-steel-industry\/","title":{"rendered":"The global steel industry is expected to grow"},"content":{"rendered":"

Despite falling Chinese demand and the fact that low prices for the metal are a burden on producers, the global steel industry is expected to see growth this year.<\/p>\n\n\n\n

Global crude steel <\/a>production will grow by 0.15 percent in 2016, according to a study by the Financial Times. The U.S. and Europe offset the second consecutive year of production contraction in China. Being responsible for almost half of the total steel production.<\/p>\n\n\n\n

Any revival in a sector seen as an indicator of global economic health will come after a difficult year. In which the first annual decline in production since 2009 was recorded. Production fell 2.8 percent in 2015, according to the World Steel Association.<\/p>\n\n\n\n

However, many of the study participants (industry analysts) predicted a continuation of the harsh market conditions. This has pushed many manufacturers to record losses.<\/p>\n\n\n\n

Four of the world’s largest manufacturers \u2013 ArcelorMittal<\/strong>, US Steel<\/strong>, SSAB<\/strong> (Sweden) and Tata Steel <\/strong>(India) \u2013 either had their credit ratings downgraded or put in a negative outlook by Standard & Poor’s in November, while Posco<\/strong> (South Korea) recently posted its first year at a loss.<\/p>\n\n\n\n

As China’s output<\/a> is expected to fall by 2.2 percent, two-thirds of analysts who responded to the survey expected China’s exports to remain at the same level or even fall in 2016.<\/p>\n\n\n\n

The U.S. global steel industry is expected to swing. Between the 3 percent growth expected for this and the 10.5 percent contraction in 2015. For the E.U., the forecast is more modest, at 0.9 percent.<\/p>\n\n\n\n

Article source: http:\/\/www.ft.com\/cms\/s\/0\/76cb4804-c812-11e5-be0b-b7ece4e953a0.html#axzz3z0EU4OBW<\/p>\n

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