26 Apr 2012 09:15

World steel demand will grow 3.6% in 2012, Evraz forecasts

MOSCOW. April 26 (Interfax) - Evraz plc expects global demand for steel to increase by 3.6% this year, largely due to demand in emerging markets, the Russian steelmaker said in its annual report.

The company expects to see growth in demand for construction steel in Russia beginning in 2014 with the start of preparations for the 2018 FIFA World Cup soccer championships.

Evraz said it expects to slightly increase steel production in 2012 thanks to the completion of a number of modernization projects.

Steel prices in Russia in the first quarter remained unchanged from the previous quarter, and Evraz does not see any change for the time being, while production costs are rising against the backdrop of a strengthening ruble.