This annual publication analyses the world steel market. Statistical tables provide the most up-to date figures and the short-term outlook showing developments in the world steel market by area, and the main characteristics, apparent consumption, trade and production, as well as levels of employment in the OECD area.

In 1997, world steel consumption rose by 6.5 %, or approximately 42 million tonnes more than in 1996. In the OECD area overall, demand for steel rose by 7.8 %. As for 1998, the Asian financial crisis will have an adverse impact on world demand for steel. This crisis will also have slowed down capacity expansion in the Asian countries. However, international steel trade flows will also be affected : some 14 million tonnes of steel products that would normally have been exported to the Asia area are likely to be diverted to other destinations and these shifts will inevitably put prices under pressure.