The global construction sector will grow at an average of 3.7% per year over the next five years, reaching an annual value of $12.4 trillion by 2022, compared with $10.4 trillion in 2017, a rebar producers' conference has heard.
This growth will in turn provide solid long-term fundamentals for the long steel products market, Jose Angel Ray, international commercial director for the Celsa Group, told the 78th meeting of the International Rebar Producers & Exporters Association (Irepas) in Warsaw, Poland, on Monday May 7.Good start to 2018In the first quarter of 2018, global consumption of long steel products totaled 200 million tonnes, up by 3.5% compared with the corresponding period of 2017, Ray said.The total for the year is expected to reach 843 million tonnes, up by 3.43% year-on-year from 815 million tonnes in 2017.Rebar remains the most-consumed long steel product....