Demand for steel will continue to fall this year, Worldsteel

demand fall of steel in 2016
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Global steel demand will continue to fall this year before a slight pick-up in 2017, the World Steel Association (Worldsteel) forecast on Wednesday.

There are many producers who cannot cope up with the falling demand for their production capacity are on the higher side making the overhead expensive higher than what is the demand in the market.

Global apparent steel use, deliveries minus net exports of steel industry goods is expected to fall 0.8 per cent in 2016 to 1.488 billion tons after a 3 per cent fall last year, according to Worldsteel.

Europe has taken a huge hit from the market slide. Tata Steel has put its UK business up for sale after substantial losses over the past two years.
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