Global demand for steel in 2022 will increase by only 0.4% and amount to 1.84 billion tons (1.834 billion tons in 2021), the World Steel Association predicts.
In 2023, according to WSA expectations, steel demand will increase by 2.2%, to 1.881 billion tons.
The total demand for steel in the Russian Federation, CIS countries and Ukraine this year, according to WSA forecasts, will fall by 23.6% to 44.6 million tons (58.5 million tons in 2021). In 2023, an increase of 1.1% is expected, to 45.1 million tons. At the same time, steel consumption in Russia will fall by 20%, to 35.1 million tons against 43.9 million tons in 2021.