[Ferro-Alloys.com] 

 

Li Xinchuang, the secretary of the Party Committee and Chief Engineer of the Metallurgical Industry Planning and Research Institute, said at the Press Release on Steel Demand Forecasts of China's iron and steel in 2021 that China's crude steel production from January and November was 961.16 million tons, an increase of 5.5% over the same period last year. Crude steel production is expected to reach 1.05 billion tons in 2020, accounting for 60% of global production.

"China will be the first country in global history to produce more than 1 billion tons of crude steel." He pointed out that this number is of great significance, and the iron and steel industry, as the basic industry of the national economy, is an important symbol to measure a country's comprehensive national strength and the degree of industrialization.

China's high output of crude steel is driven by demand.In 2020, under the action of a series of investment promotion and steady growth policies, such as the country's active fiscal policy and steady monetary policy, the steel consumption of major downstream industries such as construction, machinery and energy in China has maintained a good growth trend, driving the overall steel consumption of China to grow rapidly.Li Xinchuang expects China's steel consumption to reach 981 million tons in 2020, an increase of 9.6% over the same period last year, which will create a new historical record.

In addition, according to the data of the National Bureau of Statistics, the cumulative output of pig iron in China from January to November was 812.9 million tons, an increase of 4.2% over the same period last year, while the output of steel was 1.20203 billion tons, an increase of % over the same period last year.