The OECD Steel Committee meeting was held at the OECD headquarters in Paris from May 31st to June 1st, 2012. The meeting concluded that global steel demand growth has slowed since the end of 2011 and global steel demand growth has dropped significantly in the first quarter of 2012. , Compared with 9.0% in the third quarter of 2011, there was only 0.6% growth; Asia’s steel demand accounted for two-thirds of the world’s, and steel demand in the first quarter of 2012 also decreased from 10.7% in the third quarter of 2011 to 2.0%, of which China's steel consumption only increased by 2.5%.
Sources said that in the first quarter of 2012, world steel production reached 1,507 million tons, which was only 1% higher than the same period in 2011. Compared with 10% in the third quarter of 2011 and 3% in the fourth quarter, global steel production continued to decline in the past six months. China accounts for 46% of global steel production, and recent production has dropped sharply, from 10% in the third quarter of 2011 to 2.5% in the first quarter of 2012.
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