STEEL Market Demand and Supply Analysis Sample Clauses

STEEL Market Demand and Supply Analysis. The STEEL INDUSTRY is the second biggest industry in the world after oil and gas with an estimated global turnover of 900 billion USD.33 The World Steel Association forecasts the global steel production34 will reach 1,772 Mt at the end of 2019 and the global steel demand35 will reach 1,735 Mt in the same year (with an increase of 1.3% over 2018). In 2020, the demand is projected to grow by 1.0% to reach 1,752 Mt. Figure 26. a) EU-28 steel production by country (Million tonnes), 2019; b) EU-28 steel production forecast (2019-2030) The European steel production will reach roughly 172 Mt of crude steel at the end of 2019 and is mainly concentrated in Germany, Italy, France, Spain and Poland that together produce almost the 65% of the total 33 Data from the project proposal.
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