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Way to High-Quality Development of China Steel Industry in 14th Five-Year Plan Period: CISA

https://en.steelhome.com [SteelHome] 2021-04-14 15:57:11

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Jiang Wei, Deputy Secretary of the Party Committee of China Iron and Steel Association (CISA), delivered a keynote speech titled Way to High-Quality Development of China Steel Industry in 14th Five-Year Plan Period at XVII Steel Development Strategy Conference in Shanghai on 10 April 2021.

Highlight

1. The Chinese’s steel market would be well performed in a short run, that is, with robust demand, high production, high cost, good price, and healthy profitability.

2. The outlook for steel industry should base on long-term data analysis. The crude steel consumption per capita reached 700kg in China last year, but the country’s per capita steel reservoir is only about 8 tons which is about one-third of developed countries such as the United States and Japan. China’s urbanization rate is 20 percent points lower than the developed countries.

The data above shows (a) steel demand will return to normal in China, and it is an inevitable trend for the growth rate to decline amid stability; (b) China steel industry sees a lot of growth potential, maintaining a certain scale of demand for a long time which is in line with reality.

It is more advisable to focus on the value generated by enhancing company’s competitiveness from growing labor efficiency than to get short-term benefits by expanding production capacity. Meanwhile, the existing production capacity can meet the current growth in demand.

3. Under the “3060 Target” (peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060), China would inspect production capacity, adjust import and export policy, increase steel products import (especially for products with iron content like billet and steel scrap), reduce the export of primary low value-added steel products.

The current production cut is practicable, relieving the pressure of huge investment in steel industry for “3060 Target” and maintaining the industry's competitiveness as well as sustainable and healthy development.

4. Margin on steel products sales would return to the industry average level, due largely to the huge investment for “3060 Target” and constraints of supply and environmental protection.

5. China steel industry would meet the peak carbon dioxide emissions by 2030, and strive to accomplish it during the 14th Five-Year Plan Period (2021-2025).

6. China to reach 60% transformation of ultra-low emission in steel mills of key steelmaking areas by late 2020; to achieve full transformation in steel mills of key steelmaking areas and 80% transformation countrywide by late 2025.

There is a total of 620 million tonnes of crude steel from 229 companies in China being or been completed the transformation of ultra-low emission in the end of 2020.

Related Link: Profile of XVII Steel Development Strategy Conference


(To contact the reporter on this story: cody.wang@steelhome.cn or 86-555-2238837 18725550282)
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