MT - Global steel demand posed for big bounce this year industry group says

Global steel demand (SLX) will jump 5.8% this year as economies recover from the pandemic, but growth will moderate next year to 2.7% as the impact of stimulus spending diminishes, the World Steel Association says.The group raises its 2021 forecast from its October estimate of 4.1% growth, as the last year's robust economic recovery in top steel consumer China is joined by gains in most of the rest of the world.Potentially relevant tickers include [[X]], [[CLF]], [[NUE]], [[MT]], [[RS]], [[STLD]], [[CMC]], [[SCHN]]Chinese demand last year surged 9% while tumbling 10% in the rest of the world, leading to roughly flat global consumption, but by 2022 a focus by Chinese authorities on more sustainable growth will bring steel demand growth down to 1% vs. 4.2% in developed economies, WSA says.Goldman Sachs analysts expects the U.S. steel industry will reach "peak EBITDA margins in coming quarters" because of record prices.

For further details see:

Global steel demand posed for big bounce this year, industry group says