On October 29-30, 2019, European Steel Conference 2019 was successfully held by World Steel Dynamics (WSD) in Milan, Italy. Mr. Wu Wenzhang, Chairmen & President of Shanghai SteelHome Website was invited to attend the conference and delivered a speech titled as Chinese Steel Industry Still to Meet Domestic Demand & to Develop High Quality in The Future.

Mr. Wu’s conclusion in the speech are (VIP subscribers of SteelHome can contact Tina for full presentation):

Ø  During 1996-2018, China steel export only accounted for 8.9% of output. Driving forces of rapid growth in China steel industry mainly depends on rapid rise in domestic market demand.

Ø  In the future, Chinese market demand will remain at high level. Chinese steel industry strictly controls newly-added capacity. Super-low emission and carbon emission control will also curb steel capacity expansion.

Ø  Chinese steel industry will insist to develop intelligent manufacturing, green development, accelerate the pace of M&As, optimize industrial layout, to further enhance the product quality and resolve overcapacity.

Ø  In the future, share of EAF-based mill production will gradually increase, and demand for iron ore will be falling.

Ø  SteelHome predicts that in 2020, China steel demand and export will trend down, iron ore import will fall by 3% on year, average HR steel products price will fall by around 8%, and iron ore import price (62%) will fall by 10-15%.

Glance of the conference
Mr.Wu delivering a keynote speech
Peter F.Marcus (second, right), Philipp Englin, CEO of WSD (first, right), Adam Green, Managing Director of WSD (first, left)
Delegates reading printed presentation of Mr.Wu	SteelHome booth