World Steel Association: Global Steel Demand Expected to Grow by 1.7% in 2024

A senior executive from the World Steel Association (WSA) stated on Tuesday that global steel demand is expected to grow by 1.7% in 2024 due to the recovery of manufacturing activities, with consumption previously expected to rebound by 2.3% this year. Frank Zhong, Deputy Secretary-General of the Association of Southeast Asian Nations (ASEAN), stated at an industry conference that in the long run, ASEAN’s steel demand is expected to double from its current 80 million tons by 2035.