Global steel consumption is expected to increase by 6.8 per cent to 1.279 billion tonnes in 2008, a report said.

The growth is driven by higher demand in Brazil, Russia, India and China (BRIC), the world steel industry association IISI said.

It expects 2007 consumption to also rise by 6.8 per cent to 1.198 billion tonnes.

'These figures represent an upward percentage point revision of 0.9 for 2007 and 0.7 for 2008 over the March forecast,' the IISI said in a statement. Reuters