According to a recent report of the World Steel Association (WSA), the growth of the global apparent steel usage (ASU) may decline to 2.9 percent in 2013.
The association had earlier forecast the growth rate at 3.2 percent in its October 2012 release. Demand for steel may be subdued because of macroeconomic events like the Eurozone crisis, slowdown in the Chinese economy and US fiscal cliff in first half of 2013.
But the association expects recovery in steel consumption in the second half of 2013 and in 2014. WSA also predicts ASU growth for India to be 5.9 percent. But some domestic analysts expect ASU growth for India to be within 5 percent given the uncertainty in domestic demand outlook.
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