World steel production is forecast to grow 5.3% to 1.56 billion tons (1.42 billion t) this year and a further 5.4% to 1.64 billion tons (1.49 billion t) next year, the Australian Bureau of Agricultural and Resource Economics (ABARE) says in its latest Australian Commodities report. Global consumption is forecast to grow by 5.7% to 1.32 billion tons (1.40 billion t) in 2008 and by another 5.4% to 1.62 billion (1.47 billion t) in 2009. The report says the latest round of iron ore ...

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