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Rays of recovery - Global steel markets may recover in 2010

The experts of World Steel Association forecast demand for steel resumption in the second half of 2009 and the demand growth in 2010. They said that as per the results of current year, global steel consumption will decrease by 15% to 1.019 billion tonnes.

Mr Ian Christmas CEO of worldsteel said that "The market will recover but this growth will be weak and I can not say how fast the recovery will be."

worldsteel said that in 2010 the consumption growth is expected only in the BRIC countries, some Middle East countries like Iran and Iraq, Turkey, North Africa and some counters of the ASEAN and Latin America. In big consuming regions such as EU and NAFTA, the consumption at the level of 2009 or even fall is forecasted.

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