2019 Taiwan Industrial Outlook-Metal Material

According to the World Steel Association's (WSA) latest data, issued in April 2019, the apparent annual global steel consumption in 2018 was 1.711 billion tons, which translates to a 4.9% growth compared with 2017. This figure is expected to grow by 1.3% in 2019 to reach 1.734 billion tons; and continue growing by 0.9% in 2020 to a total of 1.75 billion tons.

Due to negative effects in 2018 from the US's tightened monetary policy, wavering trade policies, market fluctuations, and increased incidental risk on enterprises’ confidence and willingness to invest, the above-average growth interval of the global economy may have ended. Only with the softening of commodity prices and dovish comments of the US Federal Reserve did the global economy receive a chance to catch its breath and thus extend the bull market. While the cooling economy in 2019 is insufficient to spark an economic depression, the global economic outlook for 2020 and after may be more fragile.