Economy
African Steel Demand to Hit 3m Tonnes Per Year by 2050
By Modupe Gbadeyanka
A new report that disclosed that African steel demand is expected to hit three million tonnes per year by 2050.
In 2015, The Economist published a report titled ‘It’s a STEEL!’, where it analysed Chinese strategy of their over-production of steel.
It was disclosed that there may be reason to be suspicious of Chinese steelmakers’ motives.
To some, it looks as if China simply wants to export its domestic pollution abroad.
Officials are desperately trying to close dirty domestic steel plants.
Persuading China’s Iron and Steel Association to do their business in Africa neatly blends environmental concerns with the government’s geopolitical motives to push investment in Africa.
But now it seems that US Steel Industry might have to fight for what they believe in; over a century of iconic production.
The new report, United States Steel: The Renaissance of an American Icon,’ gives insight as to what the Chinese will have to face, in the immediate future.
View the full report here
