The World Steel Association released a short-term steel demand forecast report in late April. According to the report, global steel demand will rebound by 2.3% in 2023, reaching 1.82 billion mt. In 2024, global steel demand will increase by 1.7%, reaching 1.85 billion mt.
The manufacturing sector is expected to lead the recovery in steel demand, but high interest rates will still weigh on steel demand.
