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Jan.29.2022 1USD=6.3746RMB
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Li Xinchuang: Positive on China Steel Consumption

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On SteelHome Events: 2011 China Steel Market Seminar, Li Xinchuang, Director of China Metallurgical Industry Planning and Research Institute delivered the speech on major problems facing China steel industry and the development during 12th five-year.

Li summarized current steel market into three highs and two lows:

Three highs refer to high global steel production, high demand and high metallics prices. Two lows refer to low profitability, and low growth.

First, global steel production resumes and grows fast.

Second, China steel demand rise and production may hit record

Third, high raw material and transportation prices are heavy burdens on steel mills.

Fourth, China will accelerate its pace of reducing energy consumption and emission reduction.

Fifth, steel mills see poor profit and mounting market risks.

Sixth, steel industry should adjust product mix.

Next five years should be a turning point of China steel industry. Although China will strengthen efforts in improve economic structure in next five years, China steel consumption is still positive as China economic growth is driven by investment.
(To contact the reporter on this story: sbc@steelhome.cn or 86-21-50585368)
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