World Steel Association: world steel demand to grow, outlook uncertain

World Steel Association: world steel demand to grow, outlook uncertain.
World steel demand is expected to grow next year but the outlook is uncertain because of the global credit crisis, the World Steel Association said on Monday. The Association, formerly the International Iron and Steel Institute, announced at its annual meeting that it will not update its forecast as expected this week until next April because of "rapidly changing circumstances." "We are in a period of high economic uncertainty," the association said in a statement. "The impact on steel markets is becoming more apparent as we move into the later part of this year." But it said the group expects to see expansion next year above the growth in world GDP. The association announced its name change at the opening of its annual conference in Washington.