Steel Demand in North America to Grow by 3 Percent in 2018


South Central Steel pic

South Central Steel

Andy Schroeder earned a bachelor of science in finance before becoming the president and owner of South Central Steel (SCS), Inc., in Harpersville, Alabama. Having served previously as the vice president of SCS, Andy Schroeder now oversees an entire staff dedicated to providing fabricated structural steel for construction purposes.

North America is expected to witness a steady growth in steel demand this year. According to a report from the World Steel Association, demand will increase by 3 percent in 2018, whereas the following year it’s expected to experience growth of just 1.8 percent. The report adds that global steel demand should reach 1.6 billion tons this year.

A high level of investment is seen as one of the factors contributing to this year’s increased demand. The growth rate is expected to slow in 2019, however, due to rising interest rates and subsiding demand in China.

The World Steel Association is a non-profit organization based in Belgium. Founded in 1967, it now represents more than 160 producers of steel around the world.