In a report published by the *Financial Times* on the 13th, it was revealed that global steel production is expected to rise by 3.6% in 2014. This marks a positive shift, especially for Europe, where steel output is projected to grow by 2.4% this year—after six years of decline in 2013. China, the world's largest steel producer, is anticipated to see a 4% year-on-year increase, slightly lower than the 6% growth recorded in 2013. The survey results were compiled based on insights from 15 leading steel analysts globally, and they align closely with the World Steel Association’s (WSA) forecasts.
The WSA also estimates that global steel output will rise by 3.5% this year, surpassing last year’s 3.1% growth. However, China’s growth rate of 3% is below the global average, indicating a slowdown in its steel expansion. John Lichtenstein, head of global metals operations at Accenture, noted that China is gradually transitioning from an investment-driven economy to one more focused on services and consumption—an economic shift that is expected to continue in the near future.
Brian Levich, editor-in-chief of the *British Metal Guide Research*, predicts that new steel production capacity in the coming years will largely come from emerging markets such as India, the Gulf region, and Latin America. Meanwhile, Matthew De Morgan, CEO of Duferco, the world’s largest steel trading company, remarked that while steel production appears to be stabilizing, the industry still faces challenges in terms of profitability and pricing. He added that the era of rapid growth seen before the 2008 financial crisis is unlikely to return soon. "2014 may be a good year for production, but the industry is still navigating a difficult landscape," he said.
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