The Global Steel Market to be Worth $1,195 bn in 2012 Says Visiongain Report

The Global Steel Market to be Worth $1,195 bn in 2012 Says Visiongain Report PR Newswire LONDON, September 4, 2012 LONDON, September 4, 2012 /PRNewswire/ -- Visiongain's analysis indicates that the global steel market will reach a value of $1,195bn in 2012. Steel Prices are under downward pressure around the globe due to weak demand and economic slowdown. The Visiongain author of The Steel Market Analysis, Financials & Forecasting 2012-2022 report commented that 'Steel demand is highly correlated with macroeconomic indicators such as GDP growth, and government expenditures. Due to the debt crisis in the EU and slowing down in the GDP growth rate in countries such as China and India, growth in global steel demand will slightly decline in 2012 compared to the previous year. Construction will remain the major end-use sector followed by automotive and machinery. These aforementioned three sectors will remain the leading end use sectors during the forecast period." The steel industry will be faced with important constraints and challenges over the next decade including steel and raw materials price volatility, overcapacity, growing protectionism, and economic stagnation in advanced economies. This report offers an examination of the steel market over the next decade, providing detailed market forecasts for leading national markets, and offering in-depth analysis of the opportunities and challenges facing companies in the steel market throughout the world.