Risaburo Nezu, chairman of the OECD steel committee told, "Global steel demand growth continues to be led by emerging economies to meet the requirements of expanding industrial sectors and infrastructure growth. Demand in many mature economies has slowed in line with weaker economic activity".
The OECD’s steel committee consists of industry and government officials from countries that together account for 81% of the world’s steel exports.
And according to Nezu, steel use continues to grow most rapidly in the so-called “BRIC” economies of Brazil, Russia, India, and China. In 2007, steel use rose:
- 18.6% in Brazil
- 13.5% in Russia
- 11.3% in India
- 13% in China
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