The demand for steel materials in China will increase slightly in 2021

In 2020, under the action of a series of policies to promote investment and steady growth, such as the active fiscal policy and prudent monetary policy, the construction of "two new and one heavy" fields made great efforts, and the steel materials consumption of China's construction, machinery, energy and other major downstream industries maintained a good growth trend, driving the rapid growth of China's overall steel materials consumption.

In 2021, China's economy and investment will still maintain a high growth rate, especially the equipment manufacturing industry will rise significantly under the influence of global manufacturing inventory replenishment, which will drive the growth of demand for steel materials and other products. In addition, the steel materials demand of construction, machinery, automobile, energy, household appliances, railway, container, hardware and other industries will increase slightly. In 2021, China's total steel materials demand will increase slightly, but the growth rate of demand may decline significantly.

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