Based on the current economic outlook, global steel giant ArcelorMittal expects global apparent steel consumption in 2022 to grow by 0% to 1.0% as against growth of 4% in 2021. ArcelorMittal in 2021 Annual report said “Economic activity progressively improved during 2021 as lockdown measures eased and the global steel industry benefited from a favorable supply demand balance supporting increasing utilization and improved demand. Although there is some moderation of the tight market conditions and subject to pandemic-related macroeconomic uncertainties, the Company expects overall apparent steel consumption to grow in 2022 versus 2021 with regional differences”China - Overall demand is expected to continue to decline in 2022 by 0.0% to 2.0% versus estimated decline of 2.0% in 2021 as weak real estate is partially offset by a small pick-up in infrastructureUS - apparent steel consumption is expected to grow within a range of 1.0% to 3.0% in 2022 versus an estimated 20.0% growth in 2021. Automotive is expected to grow strongly as semiconductor shortages ease and manufacturing sectors are supported by strong order backlogs and low inventory of finished goods. Infrastructure is expected to grow due to beginnings of support from the USD 1.2 trillion infrastructure plansWorld excluding-China - apparent steel consumption in 2022 is expected to grow within the range of 2.5% to 3.0% versus 11.0% in 2021, supported by mild growth in the Company's core developed markets and stronger growth in India, offset by weakness in Brazil.Europe - apparent steel consumption is expected to grow within a range of 0.0% to 2.0% in 2022 versus an estimated 14.0% growth in 2021. Automotive is expected to grow strongly, with moderate growth in infrastructure and construction to support underlying demand.India - apparent steel consumption in 2022 is expected to grow within a range of 6.0% to 8.0% versus 17.0% estimated growth in 2021Brazil - apparent steel consumption is expected to decline in 2022 in the range of 8.0 to 10.0% versus a healthy 23.0% estimated growth in 2021. While apparent steel consumption is expected to decline due to destocking, real demand is expected to increase moderately in 2022 with a recovery in automotive output offset by weakness in other steel-consuming sectors.CIS - apparent steel consumption in 2022 is expected to grow within a range of 0.0% to 2.0% versus a 3.0% estimated growth in 2021The data disclosed above is before Russia's invasion of Ukraine, whose impact is still being assessed by the Company.
Based on the current economic outlook, global steel giant ArcelorMittal expects global apparent steel consumption in 2022 to grow by 0% to 1.0% as against growth of 4% in 2021. ArcelorMittal in 2021 Annual report said “Economic activity progressively improved during 2021 as lockdown measures eased and the global steel industry benefited from a favorable supply demand balance supporting increasing utilization and improved demand. Although there is some moderation of the tight market conditions and subject to pandemic-related macroeconomic uncertainties, the Company expects overall apparent steel consumption to grow in 2022 versus 2021 with regional differences”China - Overall demand is expected to continue to decline in 2022 by 0.0% to 2.0% versus estimated decline of 2.0% in 2021 as weak real estate is partially offset by a small pick-up in infrastructureUS - apparent steel consumption is expected to grow within a range of 1.0% to 3.0% in 2022 versus an estimated 20.0% growth in 2021. Automotive is expected to grow strongly as semiconductor shortages ease and manufacturing sectors are supported by strong order backlogs and low inventory of finished goods. Infrastructure is expected to grow due to beginnings of support from the USD 1.2 trillion infrastructure plansWorld excluding-China - apparent steel consumption in 2022 is expected to grow within the range of 2.5% to 3.0% versus 11.0% in 2021, supported by mild growth in the Company's core developed markets and stronger growth in India, offset by weakness in Brazil.Europe - apparent steel consumption is expected to grow within a range of 0.0% to 2.0% in 2022 versus an estimated 14.0% growth in 2021. Automotive is expected to grow strongly, with moderate growth in infrastructure and construction to support underlying demand.India - apparent steel consumption in 2022 is expected to grow within a range of 6.0% to 8.0% versus 17.0% estimated growth in 2021Brazil - apparent steel consumption is expected to decline in 2022 in the range of 8.0 to 10.0% versus a healthy 23.0% estimated growth in 2021. While apparent steel consumption is expected to decline due to destocking, real demand is expected to increase moderately in 2022 with a recovery in automotive output offset by weakness in other steel-consuming sectors.CIS - apparent steel consumption in 2022 is expected to grow within a range of 0.0% to 2.0% versus a 3.0% estimated growth in 2021The data disclosed above is before Russia's invasion of Ukraine, whose impact is still being assessed by the Company.
