Here’s a fascinating little table found in a recent presentation from Korean steelmaker Posco.
Two things really stand out. One is that compared to 2009, the US is experiencing the fastest growth in the world (though total demand is expected to be less than what it was during construction-crazy 2008).
But here’s what really stands out. Chinese steel demand in 2009 was more than twice US, EU, Japan, and India combined, and in 2010 it’s almost twice as much.
In other words, China is not just a major player in the steel market. It IS the steel market, and you can’t not focus on China if you’re interested in global markets.
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See Also:
- U.S. Steel Has Lost One-Third Of Its Value In The Past Five Days
- Anemic Steel Imports Confirm Horrid Pace Of The US Recovery
- Chinese Lending Curbs CRUSH US Steel Firms