Home / News / Industry News /

The growth of global steel demand in 2022 is expected to decrease

The growth of global steel demand in 2022 is expected to decrease
May 05, 2022 page view:0

steel

Due to regional differences, the impact of the conflict between Russia and Ukraine varies, depending on the direct trade and financial risk exposure of each region to Russia and Ukraine. The conflict has had a direct and devastating impact on Ukraine, and the EU has also been affected due to its high dependence on Russian energy. Moreover, the impact of the conflict between Russia and Ukraine has also affected the world due to the rise of energy prices (especially the raw materials required for steel production), resulting in the continuous interruption of supply chains in some regions. This problem has plagued the global steel industry even before the outbreak of the conflict.

The impact of the conflict between Russia and Ukraine continues to spill over. Superimposed on the slowdown of China's economic growth, the World Steel Association predicts that the growth of global steel demand in 2022 is expected to decrease. In addition, the continued outbreak of COVID-19 in some parts of the world and the rising interest rate have also brought risks of economic downturn. The expected tightening of US monetary policy will increase the financial vulnerability risk faced by emerging economies.

In 2023, the global steel demand forecast is highly uncertain. The World Steel Association said that the premise of this prediction is that the conflict between Russia and Ukraine will end in 2022. In addition, the geopolitical pattern surrounding Ukraine will have an extremely far-reaching impact on the global steel industry, including the adjustment of Global trade pattern, the transformation of energy trade and its impact on energy transformation, and the continuous reconfiguration of the global supply chain.

BBN Group provides you with The growth of global steel demand in 2022 is expected to decrease so you can keep up with the latest news of BBN Group, and you can learn Industry News and all BBN Group news . And BBN Group products and services , BBN Group cases .
Back to list
I Want To...
Contacts
Hotline:0086-371-86151827
Latest News
More News
2022.06.29
On June 28, 2022, BBN steel held party for our employees who joined BBN steel in June. They are Olivia, Kathy, Wendy, Katrina...More than 10 colleague
2022.06.29
S355J2W meaning: S is structural steel, 355 is the yield strength of 355MPa, J2 requires -20℃ impact, the letter W indicates that the steel has the
Get An Instant Quotation
Please fill out the form below (required *), send us a short message, and we will contact you as soon as possible.
Product&Service
  • Metallic materials
  • Metal processing
  • Pipe processing
  • Precision casting
  • Oil and gas storage equipment
  • Environmental Engineering Services
  • Furniture Life
  • Fertilizer Production Equipments
  • Fertilizer Production Lines
Consulting online customer service
0086-371-86151827
bb@bebonchina.com
International Leading Steel Supplier
BBN continues to enhance value creation and firmly promote social harmony
Copyright © 2020 by BBN Group All rights reserved豫ICP备19040928号-1
Online
Email
Inquiry