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Steel Consumption to Rise Through 2005, Reports IISI

Steel Consumption to Rise Through 2005, Reports IISI

Wednesday, May 19, 2004
 
Global consumption of finished steel products is projected to increase by 6.2 percent in 2004 and by another 4.5 percent in 2005, with U.S. steel consumption expected to rise 4.6 percent through 2005, according to an outlook published by the International Iron and Steel Institute. High Asian demand should continue, according to the report, with China expected to increase consumption by 13.1 percent in 2004 and 10.4 percent in 2005. Since 1995, according to IISI, China has increased its share of global steel consumption from 13.5 percent to an estimated 30.3 percent in 2005, and should account for 61 percent of the global increase in consumption through next year.

 

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