World Steel Demand 2024 Lok. That’s set to translate into a 6.7% jump in steel demand to around 120 million tons in 2023, according to the world steel association, the highest growth among major economies. According to the world steel association, the projected global steel demand for 2024 is now expected to increase by 1.7%, reaching 1.793 billion tons.

The world steel association (worldsteel) has today released its short range outlook (sro) steel demand forecast for 2024 and 2025. Steelmakers worldwide continue to face weak demand from their major consumer markets, compelling them to restrain their output levels.