For many years, steel demand kept growing as a result of rapid growth in the developing economies that helped offset sluggishness in developed economies. Asia, particularly China, remained the principal growth driver.
Currently, however, the scenario has become slightly anomalous with the conventional growth engine — China — adding an element of uncertainty to the outlook. Nevertheless, there are plenty of reasons to be optimistic about the broader steel industry, both in the short and the long term. Below, we discuss some of the key reasons and what investors in the steel sector can look forward to in the coming months and years.