On October 15, 2024, the World Steel Association recently released its latest short-term steel demand forecast report. The report points out that after three consecutive years of declining demand, global steel demand is expected to rebound by 1.2% to 1.772 billion tons in 2025. Among them, India's steel demand is expected to increase significantly, becoming the main driving force for global steel demand growth. At the same time, the sustained downturn in China's real estate industry will continue to affect its steel demand. The World Steel Association stated that despite ongoing challenges, global steel demand is expected to enter a moderate growth phase by 2025.