The World Steel Association’s global forecast for the steel industry in 2020 cites overcapacity, restructuring and trade frictions, as key factors behind what it says will be a slow market this year.

 

The association is looking at an increase in the availability of scrap with a large portion of global crude steel production coming in through steel being recycled at electric arc furnaces.

 

As per WSA, customers are also demanding greater transparency and accountability from steel producers, especially in terms of environmental and labour standards.

 

The International Energy Agency (IEA), in collaboration with the WSA has published its technology roadmap for the steel industry, which sets out a strategy for decoupling steel production from related C02 emissions.

 

As per WSA, World crude steel production for the 64 countries it monitors was 147.8 mn mt in November 2019, a 1pc decrease compared to November 2018.

 

China’s crude steel production for November 2019 was 80.3mn mt, an increase of 4pc compared to November 2018.

India produced 8.9mn mt of crude steel in November 2019, down 2.8pc from November 2018.

 

Japan produced 7.7mn mt of crude steel in November 2019, down by 10.6pc from November 2018.

South Korea’s crude steel production was 5.9 mn mt in November 2019, a decrease of 0.5pc on November 2018.

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