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Metals: According to the International Iron and Steel Institute (IISI), 2006 will be a good year for the steel industry. Apparent steel use for this year is expected to increase 8.9% to 1,121 million metric tons (mmt). Growth of 5.2% to 1,179 mmt is forecast for 2007. Measurements of apparent steel use take into account shipments from importers and steel producers to the marketplace. In 2006, China's apparent steel use is predicted to increase a world leading 14.4% and make up one quarter of the world's total apparent steel use. However, growth is expected to slow in 2007, declining to 10.4%. Apparent steel use in South America is expected to swell 11.6% to 36 mmt in 2006 and, in the Commonwealth of Independent States, it is is predicted to grow 7.0% to 47 trent. Due to more spending on construction and infrastructure, India's apparent steel use will grow 10.0% this year, but slow to 9.1% growth next year. The EU (25) and the NAFTA region are forecasted to experience gains of 8.0% and 8.7% in apparent steel use, respectively. Extended forecasts show that the world's real steel demand will grow 4.9% per year to 2010 and 4.2% per year from 2010 to 2015.

Source: International Iron and Steel Institute
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Title Annotation:Industry Watch
Publication:Instrument Business Outlook
Date:Oct 15, 2006
Words:223
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