In 2020, China steel demand is about 874 million tons, down slightly year on year

On December 12, the Metallurgical Industry Planning and Research Institute released the domestic steel demand forecast for 2020. According to the forecast, China's steel demand in 2020 is about 881 million tons, down slightly year on year.

In the forecast report released on the same day, the above institutions said that in 2019, benefiting from the stable growth of domestic economy, the steel consumption of China's construction, machinery, energy, home appliances and other major downstream industries maintained a good growth trend, promoting the overall rapid growth of China's steel consumption. In 2020, China's economy will generally maintain a stable development trend, but the growth rate may fall further, the demand for steel materials in construction, automobile, shipbuilding and other industries will fall, the demand for steel in machinery industry will remain basically unchanged, and the demand for steel in energy, home appliances and other industries will continue to grow.

According to the operation analysis of the downstream industries of steel, and considering some areas not included in the statistics, the downstream industry consumption method is adopted to predict the steel consumption of China in 2019 is 883 million tons, and the steel demand of China in 2020 is predicted to be about 874 million tons, down slightly year on year.

According to the change rule and characteristics of consumption coefficient relationship among GDP, fixed asset investment and steel consumption in recent years, using the GDP consumption coefficient method and fixed asset investment consumption coefficient method, it is estimated that China's steel consumption in 2019 will be 892 million tons and 891 million tons respectively; it is predicted that China's steel demand in 2020 will be 897 million tons and 888 million tons respectively. According to these two prediction results, it is predicted that China's steel consumption will be 891 million tons in 2019 and 892 million tons in 2020.

In conclusion, considering the characteristics and limitations of the above-mentioned different methods, the results of the two methods are weighted. It is estimated that China's steel consumption in 2019 will be 886 million tons, an increase of 7.3% year-on-year; China's steel demand in 2020 will be 881 million tons, a decrease of 0.6% year-on-year.

Hot ProductsSee More+

  • Shipbuilding steel pipe

    Shipbuilding steel pipe

    GB T 5312 Carbon and carbon-manganese steel seamless steel tubes and pipes are mainly for ship use, also known as shipbuilding steel pipes. Under GB T 5312, there are mainly 5 steel grades: grade 320, 360, 410, 460 and 490. Each grade covers three levels: I, II, III.

  • Shipbuilding use angle steel

    Shipbuilding use angle steel

    Angle steel, commonly known as angle iron, is a long strip of steel whose sides are perpendicular to each other. There are equal angle steels and unequal angle steels. The two sides of equal angle steel are equal in width. The unequal angle steel is also known as L shape profile steel.

  • Shipbuilding flat bar

    Shipbuilding flat bar

    Flat bar steel can be produced according to the user's needs, with fixed thickness, width and length. It can reduce the cutting process for users, reduce the consumption of labor and materials, and also reduce the processing loss of raw materials.

  • Bulb flat steel for shipbuilding

    Bulb flat steel for shipbuilding

    The bulb flat steel is a kind of medium section material which is mainly used in the field of shipbuilding and bridge building, and the shipbuilding bulb flat steel is an auxiliary medium section material for shipbuilding.

  • FH40 Shipbuilding steel plate

    FH40 Shipbuilding steel plate

    The steel for shipbuilding and oil platform---FH40, is the high tensile strength steel.The shipbuilding steel FH40 is the Hull structural steel.We can provide FH40 shipbuilding steel plate price.

  • EH40 Shipbuilding steel plate

    EH40 Shipbuilding steel plate

    The steel for shipbuilding and oil platform---EH40, is the high tensile strength steel.The shipbuilding steel EH40 is the Hull structural steel.We can provide EH40 shipbuilding steel plate price.

You can contact us through the following ways:

If you are interested in our company or products, welcome to visit our company or local offices; you can also get contact with us through online consulting, demand table submission, e-mails and telephones. Our staff shall wholeheartedly provide product information, application knowledge and good service for you.

  • Address:XICHENG SCIENCE & TECHNOLOGY BUILDING HIGH-TECH DEVELOPMENT ZONE, ZHENGZHOU, CHINA
  • Hotline:0086-371-86151827
  • Fax:    0086-371-86011881
  • E-mail:[email protected]