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In 2008, 2009, 2015 and 2016 output fell in the majority of steel-producing countries as a result of the global recession. In 2010 and 2017, it started to rise again. Crude steel production contracted in all regions in 2019 except in Asia and the Middle East. India is the 2nd leading producer of iron and steel industries. [citation needed]
According to the 2019 International Energy Agency (IEA) report, the iron and steel industry directly contributed 2.6 Gt to global CO 2 emissions and accounted for 7% of global energy demand. [1] Singapore is the world's main trading hub for iron, [ 2 ] with about 90% of the world's iron ore derivatives traded on their stock exchange.
Prospective Outlook on Long-term Energy Systems (POLES) is a world simulation model for the energy sector that runs on the Vensim software.It is a techno-economic model with endogenous projection of energy prices, a complete accounting of energy demand and supply of numerous energy vectors and associated technologies, and a carbon dioxide and other greenhouse gases emissions module.
Global demand for oil, natural gas and coal — and the carbon pollution they generate — are expected to peak later this decade, according to a new report by the International Energy Agency.
The International Energy Agency says the share of coal, oil, and natural gas in global energy supply, stuck for decades around 80%, will start to edge downward and reach 73% by 2030.
Steel demand in Latin America could dip through 2022 as the industry faces regional inflationary pressures, price hikes from the Russian invasion of Ukraine and political instability, an industry ...
According to their peer-reviewed report, oil production in 2030 would not exceed 75 million barrels per day (11.9 × 10 ^ 6 m 3 /d) while the IEA forecasts a production of 105 million barrels per day (16.7 × 10 ^ 6 m 3 /d). The lead author of the report, Kjell Aleklett, has claimed that IEA's reports are "political documents". [87]
The strategic goal above is justified because steel consumption in the world, around 1000 million metric tonnes in 2004, is expected to grow at 3.0% per annum to reach 1,395 million metric tonnes in 2015, compared to 2% per annum in the past fifteen years. China will continue to have a dominant share of the demand for world steel.