Posted on 26 May 2023
According to the World Steel Association, global steel demand was expected to rebound by 2.3% this year and rise by 1.7% next year, reflecting a recovery in the manufacturing industry.
By 2035, steel demand from the Association of Southeast Asian Nations (ASEAN) was forecasted to double from the current 80 million tons, said Frank Zhong, Deputy Director General of the association.
In the short term, the steel industry will focus on optimizing the energy efficiency of existing facilities and maximizing the use of scrap to reduce carbon emissions in the steel industry. The global scrap supply was expected to increase to 1.1-1.2 billion tons from 700 million tons within 30 years.
Source:Yieh
