EVOLUTION OF GLOBAL ECONOMY

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According to IMF, the growth forecast for the world´s economy was 3.3% in 2014.

The global growth projection for 2015 is 3,8%. Chinese President Xi Jinping said China´s will maintain strong. China´s groos domestic product growth rate is expected over 7 percent in 2015.

According to Oxford, the US economy to do well in 2015 with about 3% growth driven in part, by manufacturing momentum and rising employment, some of which is reaching decade highs.

Europe, The oxford Economics predicts growth of a little over 1% in 2015. Oxford Economics sees India as the strongest of the BRIC countries in 2015. Good growth numbers of 5.6% are expected, driven by the election of a pro-business government.

 

STEEL PRODUCTION IN 2014

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The world Steel Association forecasts that global apparent steel use increased by 3.1% to 1527 Mt in 2014 following growth of 3.6% in 2013. In 2015, it is forecast that world steel demand will grow further by 3.3%and will reach 1576 Mt.

If we analyze the table detailed below;  we see that Asia is the leading producer of steel, only China has a production of 822,7 tons while in 2014 has had a slight descents(de 49,7% in 2013 and during 2014 it was a 49,5% ).

The European Union is the second zone in the classification  where Germany is the leading producer. In 2014 has a production was 169 M.Ton. This represents an increase of 1.7%; increases in production in Germany and France and falls in Spain and Italy.

In short, the global steel demand recovery continues but growth is stabilising at a lower rate with continued volatility and uncertainly leading to a challenging environment for steel companies.

Production fell in the CIS, in Ukraine only  fell  17%.

In India, steel demand was expected to grow by 3.3% to 76.2Mt in 2014, following 3.8% growth in 2013. Despite uncertainties relating to the impact of upcoming elections steel demand is projected to grow by 4.5% in 2015.

In North America, crude steel production increased 2%, however in South America shrank 1.4%, since the sharp decline in Brazil, Venezuela and Chile were offset with increases in Argentina, Colombia and Peru.

In Central and South America, apparent steel use was projected to grow by 3.4% to 50.9Mt in 2014 down from 4.3% in 2013.This is forecast to slow further to 2.7% in 2015 due to contraction in Argentina and a sharp slowdown in Chile.

Crude steel production – December 2014
The figures below are in thousand tonnes.
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total
European Union (28) 14.603 13.871 15.449 14.288 14.973 14.376 13.840 12.129 14.223 14.714 14.210 12.457 169.243
Other Europe 3.075 2.908 3.072 2.834 3.208 3.117 2.995 3.100 3.087 2.909 2.978 2.910 36.194
CIS (6) 8.817 8.295 9.203 9.014 9.681 9.217 9.247 8.601 8.078 8.253 8.261 8.422 105.089
North America 10.136 9.494 10.356 9.812 10.229 10.067 10.463 10.618 10.119 10.243 9.740 9.977 121.247
Africa 1.328 1.287 1.280 1.342 1.229 1.419 1.273 1.397 985 1.286 1.353 1.399 15.579
Middle East 2.047 2.185 2.345 2.461 2.490 2.339 2.247 2.250 2.335 2.490 2.476 2.393 28.059
Asia 93.004 84.104 95.434 92.726 95.153 93.202 92.337 92.830 91.397 91.904 87.264 92.095 1.110.860
Oceania 416 469 489 413 437 455 514 419 503 514 390 470 5.488
Total 65 countries 137.061 126.035 141.586 136.680 141.206 137.823 136.831 135.209 134.559 136.401 130.337 133.712 1.636.960
estimated
This dates are of  65 countries, they for approximately 98% of total world crude steel production in 2013.
Annual total figures include revisions not shown on a monthly basis.