What to Expect from the Steel Industry in 2018
In the past decade, the steel industry has finally come to a point where experts see the best balance of risks. It means that risks that were once posed to the steel industry have now abated to a certain extent. This means progress for the steel industry, in a steady and long-lasting way.
The Steel Industry Will Change in These Ways in 2018
Check out what experts are saying about growth in the steel industry this coming year with these steel industry predictions.
Global Demand for Steel This 2018
There is expected to be a slowdown in demand for the steel industry in 2018, but experts say that’s not necessarily a bad thing. As an industry by which, according to Fortune, “is seen as a gauge of the world’s economic health.”
According to Worldsteel, a group that represents over 160 steelmakers — making up 85% of the total global production, the demand for steel will grow by .9% this 2018.
With China’s crackdown on old and illegal facilities last year, they have made ample efforts to increase their local production — nearing US steel industry’s capacity. Next to China, India is the world’s biggest steel consumer — third globally. There, the expected growth is at 5.7%.
Experts say that steel industry is a good place. It has successfully maneuvered through protectionist policies, uncertainties on the EU election and deceleration in China. Now, moderate but steady growth is expected despite the growing populist governments, Korea’s escalating geopolitical tension and the debt problem that China’s currently facing.
The recovery is brought more by cyclical changes than by structural ones. The industry will surely see slow and steady progress.
What do you think of the predictions for the steel industry in 2018? Do you agree with the expectations laid out in this article?