"According to the World Steel Association, global steel demand in 2011 is expected to fall to 5.3% but in terms of volume, demand will still reach a record breaking 1.34 billion tonnes. As maturing economies continue to struggle to regain their foothold after the global economic downturn, the emerging BRIC (Brazil, Russia, India, China) nations are expected to dominate the demand curve, with India and China at the forefront.
In 2011, China expects domestic steel consumption to grow by 8–9% and reach 650 million tonnes, while 2012 may see a production of 680 million tonnes. India too is expected to witness domestic steel demand rise by 9–10% during 2010–11. Demand is expected to be driven once again by the automobile, consumer durables and infrastructure sectors. Indian steel makers are finalizing expansion plans to take advantage of this growing market. With rising demand in both nations, the raw material market (coal and iron ore) is expected to see sharp rises in demand too..."
at http://www.marketoracle.co.uk/Article25386.html
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