CISA: Chinese crude steel output expected to exceed 1 billion tons this year
2020-10-27 17:52:01 [Print]
CISA expects Chinese crude steel output to exceed 1 billion tons this year, up by 3-5% YOY.
QU Xiuli, vice president of CISA, said at a press conference held in Beijing on October 26 that the downstream industry was recovering rapidly, driving demand growth significantly. According to estimates, from January to September, the apparent consumption of crude steel nationwide stood at 769 million tons, up by 8.94% YOY, and the growth rate was 1.7% higher than that from January to August. The launch of major national investment projects and the rapid recovery of downstream industries such as automobiles and home appliances stimulates demand for steel, and the steel industry supports the recovery of the national economy.
CISA stated that it was expected that Chinese crude steel production and steel consumption would maintain year-on-year growth this year. In the fourth quarter, Chinese economy would continue to grow. Driven by the implementation of the Six Stability and Six Guarantees policies, downstream steel demand would also continue to recover. However, as the weather in the north turns cold, the steel demand would decline, and the growth rate of steel production would decline. The annual crude steel output was expected to exceed 1 billion tons, up by 3-5% YOY.
QU Xiuli, vice president of CISA, said at a press conference held in Beijing on October 26 that the downstream industry was recovering rapidly, driving demand growth significantly. According to estimates, from January to September, the apparent consumption of crude steel nationwide stood at 769 million tons, up by 8.94% YOY, and the growth rate was 1.7% higher than that from January to August. The launch of major national investment projects and the rapid recovery of downstream industries such as automobiles and home appliances stimulates demand for steel, and the steel industry supports the recovery of the national economy.
CISA stated that it was expected that Chinese crude steel production and steel consumption would maintain year-on-year growth this year. In the fourth quarter, Chinese economy would continue to grow. Driven by the implementation of the Six Stability and Six Guarantees policies, downstream steel demand would also continue to recover. However, as the weather in the north turns cold, the steel demand would decline, and the growth rate of steel production would decline. The annual crude steel output was expected to exceed 1 billion tons, up by 3-5% YOY.
