According to the report, global crude steel output was estimated by MEPS International (MEPS), an independent steel industry analyst, to grow slowly by about 0.8% year on year in 2019.

It was impacted by factors including global trade tension and uncertain political issues as well as lagging confident in the market. The mitigation in the global economy also diminished the demand for the steel industry.

MEPS pointed out that the steel industry was getting into a mature stage of development. In the long term, both steel output and demand in the world was expected to grow slowly.

However, infrastructure, machinery, and consumer goods would continue along with the increasing global population.