On October 14, 2019, Worldsteel released its short-term steel demand forecast for 2019 and 2020. In 2019, China's steel demand is forecast to

grow 7.8% to 900.1 million tons, while the rest of the world's steel demand is expected to grow 0.2% to 874.9 million tons. In 2020, steel

demand in China is expected to grow by 1.0%, and steel demand in the rest of the world is expected to grow by 2.5%, driven by 4.1% steel

demand growth in emerging and developing economies (excluding China).

Global steel demand will grow by 3.9% to 1.775 billion tonnes in 2019 and by another 1.7% to 1.805.7 billion tonnes in 2020.