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The World Steel Association (worldsteel) has projected that global steel demand will remain largely stable in 2025, before showing a recovery in 2026, supported by improving macroeconomic conditions and infrastructure spending.
According to worldsteel’s Short Range Outlook (SRO), global steel demand is expected to grow marginally by 0.4% in 2025, reaching around 1.80 billion tonnes, after a slower-than-expected recovery this year. A stronger 2.2% growth is anticipated in 2026 as interest rates ease and industrial activity strengthens.
The report highlights that while India and Southeast Asia will continue to drive consumption, demand in China is expected to remain subdued due to its sluggish real estate sector. Meanwhile, developed economies are expected to see moderate recovery as inflation pressures cool.
Worldsteel noted that energy transition projects, including renewable infrastructure and electric vehicle manufacturing, will boost demand for high-grade and specialty steels.
Overall, the association expects global demand trends to stabilize after two years of volatility, signaling a gradual but sustained recovery for the steel industry heading into 2026.
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