Prognostic modeling of total global steel production

The objective of this publication was to present the results of prognoses for steel production volume in the world. This work was created on the basis of statistical data. The volume of total steel production in the world from 2000 to 2015 was used in order to create the prognosis. The prognoses were created until 2020 – for a period of 5 years. Econometric methods were used to execute the prognoses. The minimum value of error (square root) was assumed as optimisation criterion of the point value of a prognosis. Individual prognoses were grouped according to change scenarios for the studied phenomenon, taking into account the trend nature