Saying that the Chinese economy is uncertain, Worldsteel estimates that steel demand decreased by 4.0% in 2022 compared to the previous year and is expected to remain stable in 2023.
There was a 4% decrease in Chinese steel production. This decrease is equivalent to 38 million tons. (FROM 952 MT to 914 MT).
Although this decrease covers a very small area for China, the same decrease shows a result close to 38 percent of the US and Germany's entire steel production.
In its 2023 steel demand forecasts, Worldsteel count India, Turkey and Brazil among the countries whose demand will increase.
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