【Ferro-alloys.com】: In his presentation at Eurometal's 75th anniversary conference, Edwin Basson, Director General of the World Steel Association, made important assessments on the global trends and future predictions that will shape the steel industry.

Basson emphasized that four mega trends that gained momentum in the post-pandemic period deeply affected all sectors, especially the steel industry. These trends are climate change, technological progress, geopolitical developments and socioeconomic transformations. According to Basson, these topics will determine the roadmap of the steel industry for the next 30 years.

Stating that climate change is defined as a "super megatrend", Basson noted that carbon neutrality, income inequality and global health risks will have an impact on the sector. Technological advances will transform steel production processes and bring digital twin applications, green steel and circular economy models to the forefront.

Referring to geopolitical developments, Basson pointed out that the transition to a multipolar world order will lead to divergence in the fields of energy and technology. Stating that new generations will be more decisive with demographic changes and individual behaviors are changing rapidly, Basson stated that socioeconomic transformations will also have significant impacts on the sector.

Edwin Basson noted that between 2020 and 2050, new energy sources will become widespread in the sector, autonomous mobility will increase, competition between materials will intensify and carbon reduction in the steel sector will accelerate. During this period, he stated that urbanization will also differentiate and the green steel-based circular economy model will come to the fore.

In Basson's presentation,changes in crude steel production and apparent steel utilization between 2013and 2023 were also shared. Accordingly, while the share of emerging economies in steel demand increased,it was observed that there was a decrease in developed economies. China and India, in particular,continuedto account for a significant share of global steel demand.

Basson also noted that steel trade is becoming increasingly cross-border. In 2023, he explained, more than 40% of global steel production crossed borders through both direct and indirect trade. Stating that the volume of indirect exports reached 90% of direct exports, Basson stated that indirect steel exports broke a historical record with 360 million tons in 2023.

Basson pointed out that the automotive sector in particular has the largest share in indirect steel trade, with 35% of indirect exports coming from automotive, 27% from metal products and 22% from mechanical machinery.

The presentation noted that countries such as Mexico, Poland, Türkiye, Thailand and the Czech Republic have become increasingly influential players in steel exports by becoming regional production bases.

• [Editor:Alakay]