Steel pipes in Shenyang, Liaoning province. Steel demand in China dropped 13.3 per cent in July and 18.3 per cent in August as a result of the slowing momentum in the real estate sector and a government cap on steel production. Reuters
Steel pipes in Shenyang, Liaoning province. Steel demand in China dropped 13.3 per cent in July and 18.3 per cent in August as a result of the slowing momentum in the real estate sector and a government cap on steel production. Reuters
Steel pipes in Shenyang, Liaoning province. Steel demand in China dropped 13.3 per cent in July and 18.3 per cent in August as a result of the slowing momentum in the real estate sector and a government cap on steel production. Reuters
Steel pipes in Shenyang, Liaoning province. Steel demand in China dropped 13.3 per cent in July and 18.3 per cent in August as a result of the slowing momentum in the real estate sector and a governme

Global steel demand to return to pre-pandemic levels in 2021, except in China


Alvin R Cabral
  • English
  • Arabic

Global demand for steel is expected to return to pre-Covid-19 levels in 2021 with the exception of China, as resurgent demand continues to fuel strong manufacturing activity, according to a new report from the World Steel Association (worldsteel).

The Brussels-based industry group's economic committee, chaired by Saeed Al Remeithi, chief executive of the UAE's Emirates Steel, projects demand to grow 4.5 per cent in 2021 to reach 1,855.4 metric tonnes after a tepid 0.1 per cent growth in 2020, with growth further rising by 2.2 per cent to 1,896.4 metric tonnes in 2022. The forecast takes into account the vaccination programmes around the world, and less-disruptive nature of coronavirus variants compared with previous waves.

“Strong manufacturing activity bolstered by pent-up demand is the main contributor. Developed economies have outperformed our earlier expectations by a larger margin than the developing economies, reflecting the positive benefit of higher vaccination rates and government support measures. In the emerging economies, especially in Asia, the recovery momentum was interrupted by the resurgence of infections,” Mr Al Remeithi said.

The pandemic upended the global economy, forcing industries engaged in steel, including construction, autos and durable goods, to halt projects or scale down manufacturing as demand dried up. But with restrictions largely lifted and economies reopening, industry stakeholders are making up for lost time and keeping up with rejuvenated demand.

Steel demand recovery in the GCC fell short of expectations on the back of reduced construction activity owing to fiscal consolidation efforts. But with rising oil prices and the pandemic under control, steel demand is expected to rebound more strongly in 2022.

Demand in China dropped 13.3 per cent in July and 18.3 per cent in August because of the slowing momentum in the real estate sector and the government cap on steel production. Activity also weakened owing to tough government measures on developers' financing that were introduced in 2020. Chinese steel demand will have negative growth for the rest of 2021.

In the US, demand was aided by the strong performance of the automotive and durable goods sectors, but shortage of some components is undermining this recovery. The momentum in the construction sector is weakening with the end of a residential construction boom and sluggish non-residential sector activities. Recovery in the European Union is gathering pace, with all steel-using sectors exhibiting a positive recovery despite continuing waves of infection.

Japan's rising exports, investment and consumption have aided steel's recovery, with the manufacturing, automotive and machinery sectors leading the way. South Korea's steel demand is expected to recover to 2019 levels this year, supported by improving exports and investment in manufacturing facilities.

While the manufacturing sector’s recovery remained more resilient to the new waves of infection than expected, supply-side constraints led to a levelling off of the recovery in the second half of the year and are preventing a stronger recovery in 2021
Saeed Al Remeithi,
chairman of the World Steel Association economic committee

In developing economies excluding China, steel demand continued to rebound in 2021, aided by the recovery in commodity prices and international trade. However, new Covid waves combined with low vaccination levels and a slow recovery in international tourism restrained developing economies. India suffered only a minor downward revision and will show a strong recovery in 2021, with steel demand to reclaim the 100-million-tonne mark this year.

“While the manufacturing sector’s recovery remained more resilient to the new waves of infection than expected, supply-side constraints led to a levelling off of the recovery in the second half of the year and are preventing a stronger recovery in 2021. But with high backlog orders combined with a rebuilding of inventories and further progress in vaccinations in developing countries, we expect steel demand will continue to recover in 2022,” Mr Al Remeithi said.

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5pm: Wathba Stallions Cup Maiden (PA) Dh 70,000 (Dirt) 1,600m
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5.30pm: Maiden (PA) Dh 70,000 (D) 1,600m
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6pm: Maiden (PA) Dh 70,000 (D) 1,800m
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7pm: Handicap (PA) Dh 70,000 (D) 2,000m
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7.30pm: Maiden (PA) Dh 70,000 (D) 1,000m
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8pm: Handicap (PA) Dh 70,000 (D) 1,000m
Winner: Al Sail, Tadhg O’Shea, Ernst Oertel

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Australian Open (5 titles) - 2004 bt Marat Safin; 2006 bt Marcos Baghdatis; 2007 bt Fernando Gonzalez; 2010 bt Andy Murray; 2017 bt Rafael Nadal

French Open (1 title) - 2009 bt Robin Soderling

Wimbledon (8 titles) - 2003 bt Mark Philippoussis; 2004 bt Andy Roddick; 2005 bt Andy Roddick; 2006 bt Rafael Nadal; 2007 bt Rafael Nadal; 2009 bt Andy Roddick; 2012 bt Andy Murray; 2017 bt Marin Cilic

US Open (5 titles) - 2004 bt Lleyton Hewitt; 2005 bt Andre Agassi; 2006 bt Andy Roddick; 2007 bt Novak Djokovic; 2008 bt Andy Murray

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Power: 220 and 280 horsepower

Torque: 350 and 360Nm

Transmission: eight-speed automatic

Price: from Dh136,521 VAT and Dh166,464 VAT 

On sale: now

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THE SPECS

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Transmission: nine-speed automatic

Power: 310hp

Torque: 367Nm

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Known as The Lady of Arabic Song, Umm Kulthum performed in Abu Dhabi on November 28, 1971, as part of celebrations for the fifth anniversary of the accession of Sheikh Zayed bin Sultan Al Nahyan as Ruler of Abu Dhabi. A concert hall was constructed for the event on land that is now Al Nahyan Stadium, behind Al Wahda Mall. The audience were treated to many of Kulthum's most well-known songs as part of the sold-out show, including Aghadan Alqak and Enta Omri.

 
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The specs
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  • Power: 640hp
  • Torque: 760nm
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  • Price: Not announced yet
Race card

5pm: Maiden (PA) Dh80,000 (Turf) 1,600m
5.30pm: Handicap (PA) Dh80,000 (T) 1,600m
6pm: Arabian Triple Crown Round-1 Listed (PA) Dh230,000 (T) 1,600m
6.30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,400m
7pm: Maiden (PA) Dh80,000 (T) 1,200m
7.30pm: Handicap (TB) Dh100,000 (T) 2,400m

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Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

MATCH INFO

Uefa Champions League quarter-final, second leg (first-leg score)

Porto (0) v Liverpool (2), Wednesday, 11pm UAE

Match is on BeIN Sports

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Chef Nobu's advice for eating sushi

“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”

The bio

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Updated: October 16, 2021, 4:00 AM`