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Wu Wenzhang Spoke at Steel Success Strategies 2021 (Live) [SteelHome] 2021-06-23 08:58:44

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Mr.Wu Wenzhang, Founder and Board Chairman with SteelHome, was invited to speak at Steel Success Strategies (Live) on June 21.

Here are his viewpoints:

1. China steel industry will enter high-quality development via restructuring, green environmental protection and intelligent manufacturing in the future.

2. Chinese economy will keep steadily moving forward, which drives the rise in steel production and consumption. SteelHome predicts that apparent consumption of steel in 2021 will increase by 5% on year.

3. It is expected that Chinese steel market price in H2 2021 will be lower than H1, with average price in the year greatly higher than that in 2020. Chinese iron ore import price, with the implementation of production limitation policy, will plummet sharply.

CEO Philipp G. Englin asked one question on steel demand growth in China in the future, with the production limitations move.

Mr.Wu answered: Chinese government will strictly control crude steel production in the future. 2021 will see the certain policies announced and enacted by central government to limit crude steel production. Because of robust domestic demand, Chinese crude steel output in the first months of 2021 came to 473.1 million tons, up 13.9 percent on year. In order to rein in output, Chinese steel government will take following measures from aspects of laws, executive efforts and market solutions: a) to conduct environmental protection via ultra-low emission, b) to inspect the illegal, newly-added and replaced steel capacity, c) to reduce carbon emission etc. SteelHome predicts that crude steel production in the second half year will be lower than the first half one. The whole year production will reach 1.11-1.14 billion tons, up 7.0 percent on year. The steel demand in the future will find it difficult to rise by yearly 5 percent.

(To contact the reporter on this story: or 86-21-50585733 15800777957)
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