Nippon Steel: global steel demand to slow down-paper

TOKYO, Oct 8 (Reuters) - Growth in global steel demand will slow in 2009 to less than 5 percent per year due to global financial turmoil, Nippon Steel Corp (5401.T) Chairman Akio Mimura said in a newspaper interview published on Wednesday.

"I would be happy to see even a slight increase in demand in 2009," Mimura was quoted as saying by the Nikkei business daily. "Five percent growth may be asking too much," he said.

Global steel demand grew 7.5 percent in 2007.

However, Mimura said overall demand is unlikely to fall, given solid economic growth in emerging economies, which account for 70 percent of world steel demand.

The World Steel Association said this week global steel demand is expected to rise next year, but the outlook is uncertain because of the credit crisis.

The association, formerly the International Iron and Steel Institute, said at its annual meeting in Washington that it will not update its forecast until next April because of "rapidly changing circumstances."

(Editing by Sophie Hardach)