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Global steel consumption keeps climbing except in US

28 May 2007 17:51 reported by Bill Chen

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The global steel consumption is expected to grow continuously in 2007 and 2008 under the main contribution of rapid development in countries like China, India and the Middle East.

However, analyzed by Steel Committee of the Organization for Economic Cooperation and Development (OECD) that the situation in United States is not with the line of global steel consumption but in a reversely reducing trend. Unless the housing market and economic climate pick up in next year, the steel industry is hardly to rebound.

Due to the rapid development and society transform in China, strong demands of steel bring the consumption continuously to rise which has reached 198 million tons during the past five years.

With many public constructions being undergone in India, Indian market represents very high potential of steel consumption growth. Similarly in Middle East market, active building projects and infrastructures ensure the further possibilities of further consuming growth in steel.

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