Global steel demand to grow 1.7% in 2024 -association

Steel rolls are pictured at the plant of German steel company Salzgitter AG in Salzgitter, Germany March 2, 2020. REUTERS/Fabian Bimmer/File Photo

SINGAPORE: Global steel demand is expected to grow by 1.7% in 2024 following a 2.3% rebound forecast for this year based on a recovery in manufacturing activity, an executive from the World Steel Association (WSA) said on Tuesday.

In the long run, the Association of Southeast Asian Nations (ASEAN) is expected to see a doubling in steel demand by 2035 from 80 million tonnes currently, Frank Zhong, the association's deputy director general told an industry conference.