Figure 13: World Flat Carbon Steel Supply vs. Demand (Data: CRU, IISI, SEAISI)
Even during the Asian Financial Crises in 1997 to 1998, steel demanded worldwide was slightly greater than what was supplied by various steel producers worldwide. Between the years 1995 to 2000, Figure 13 shows a slow but increasing trend for world steel demand, still slightly greater than the world steel supply, yet on the onset of the Asian Financial Crises, an abrupt decrease in demand as well as supply is noticeable (CRU, 2004).
Figure 14: World vs. ASEAN Apparent Finished Steel Consumption, 1991-2004 (Data: IISI, SEAISI)
Figure 14 compares the trend of the World and ASEAN Apparent Finished Steel Consumption in 1991 to 2004. The World Apparent Finished Steel Consumption declined during the Asian Financial Crises brought by the decline in ASEAN and East Asia’s consumption.
Notes:
Composite Resources Unit (CRU) (2004), International Steel Sheet Quarterly Industry and Market Outlook. London: CRU, January 2004. back to text
The Grey Chronicles 