UK steelstockists are among those whose efforts to sell steel throughout 2013 arelikely to have helped towards the global growth that is expected to be seen interms of manufacturing output.
The latestreport from MEPS (Management Engineering & Production Services) predicts afull-year growth figure of 3.1%.
Overall,some 1.6 billion tonnes of steel output are expected to be seen worldwide bythe end of 2013, with the stronger regions more than offsetting any localisedweakness elsewhere.
In the EU asa whole, output is forecasted at 163 million tonnes, with those who sell steelin the UK helping to support this substantial manufacturing economy.
This givesthe EU around a 10% stake in the global steel manufacturing industry – and afurther 147 million tonnes of output are expected in the CIS and Other Europeregion.
By way ofcontrast, North America’s output is predicted to drop below 120 million tonnesthis year, demonstrating the continued relative strength of the European marketfor this important construction material.
The overallincrease in output is also a useful reminder that manufacturers are preparingfor a return to economic growth, which should ensure that UK steel stockistshave sufficient materials available as private housing, commercial andinfrastructure building work begins to pick back up.