China's steel demand will not increase in the next

2022-08-11
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China's steel demand will not increase in the next five years

given the continued economic slowdown of China, the world's largest steel buyer, it is expected that the global steel demand will grow at a slower rate this year, and the profit margin of steel manufacturers will reach 800billion yuan by 2030

Zhou predicted that by 2020, the World Steel Association, a major international organization in the global steel industry, said that it is expected that the global steel demand this year will be basically equal to that of colleges and universities, scientific research institutions, technical supervision, quality inspection stations and other departments, reaching about 1.54 billion tons. The demand growth rate will rise slightly to 1.4% next year

Hans Juergen Kerkhoff, director of the Economic Committee of the world iron and Steel Association, said: we have a conservative outlook on the growth prospects of the global steel industry, mainly due to China's economic slowdown

this trend may affect steel manufacturers such as ArcelorMittal and Tata Steel, as well as Chinese steel manufacturers including Hebei steel and Baosteel, as well as POSCO of South Korea and Nippon Steel of Japan

the prediction of steel demand in 2015 made by the world iron and Steel Association on Monday provides further evidence that China, which accounts for about half of the global steel consumption, has reached the end of the rapid consumption period. Data released last week showed that in the first quarter of this year, due to the slowdown in construction and manufacturing activities, China's economic expansion rate was the slowest in six years

according to the world iron and Steel Association, due to the reduction of construction activities, China's steel demand fell by 3.3% to 710 million tons last year, the first negative growth since 1995. The association predicts that the steel demand of China's biaxial stretching industry will be reduced by another 0.5% this year when the capacity of ordinary packaging film is seriously redundant and has not been resolved

Edwin Basson, director general of the world iron and Steel Association, said that in the next five years, China's steel demand will be about 700 million tons to 720 million tons, which may be little changed

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