World Steel Association: China's steel demand will grow by 7.8% this year

In 2020, China's steel demand is expected to grow by 1.0%, and steel demand in the rest of the world is expected to grow by 2.5%, driven by 4.1% steel demand growth in emerging and developing economies (excluding China).

In 2019, global steel demand will increase by 3.9% to 1.775 billion tons, and will increase by 1.7% in 2020 to reach 1,805.7 million tons.

The World Steel Association said that despite the continued slowdown in China's economy, China's steel demand will continue to grow by 7.8% in 2019, mainly benefiting from real estate investment growth. In the first seven months of 2019, China’s real estate market increased significantly compared with the same period of the past five years, followed by the “Unified Standard for Reliability Design of Building Structures” implemented in April 2019. It is estimated that the implementation of the new standard will make the new building The amount of steel used has increased by about 5.0%.

The World Steel Association is one of the largest and most active trade associations in the world, with members in all major steel producing countries. World Steel Association members cover steel manufacturing companies (including 9 of the world's top 10 steel companies), national and regional steel industry associations and steel research institutions, and member crude steel production accounts for about 85% of global crude steel production. (Source: Cable Network)