World Steel Consumption Sample Clauses

World Steel Consumption. World apparent steel consumption grew from 855 million MT in 2001 to 1,317 million MT in 2007 at a Compound Annual Growth Rate (“CAGR”) of approximately 7.5 percent. Growth in world consumption was underpinned by overall strong global demand, driven largely by economic growth and expansion of China and other emerging economies. World apparent steel consumption in 2008 declined by 1.2 percent from 2007 to 1,301 million MT in 2008, as the economic slowdown which started in the US began spreading to other regions of the world. In 2009, world apparent steel consumption declined further by 13.8 percent to 1,121 million MT. As the global economy has since been on a recovery path, world apparent steel consumption was estimated to have risen by approximately 10.7 percent in 2010.
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