The World Steel Association stated that steel use in the EU, where the energy crisis hits the most, will fall sharply in 2022 and 2023. Steel consumption in China will shrink by 4% due to the downturn in the country's real estate market.
In addition, Russia was sanctioned by Western European countries for its invasion of Ukraine, which would have a special impact on the country's economy. Therefore, Russia's steel consumption is also projected to decrease by about 10% next year.
Comments
No comment yet.