World Steel Association (or WSA) anticipates the global steel demand to take a 6.4 per cent hit during the year before recovering in 2021.
- The group also suggested that post plunging to 1.65 billion tonnes in 2020, the demand would pick pace by 3.8 per cent in 2021 to stand at 1.72 billion tonnes under the best-case scenario.
- However, WSA also expects the steel demand in China to rise by 1 per cent during the year while tumbling by 17 per cent across developed countries.
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