[world Iron and Steel Association: global steel demand will rebound 2.3% in 2023] April 19, the World Iron and Steel Association released the latest short-term (2023-2024) steel demand forecast. Global steel demand will rebound 2.3 per cent to 1.8223 billion tons in 2023, according to the report. In 2024, global steel demand will grow by 1.7 per cent to 1.854 billion tons. Manufacturing is expected to lead the recovery in steel demand, but high interest rates will still put pressure on steel demand. Steel demand in most regions is expected to accelerate next year, but China's steel demand will slow.