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The operation and outlook of China's steel industry in 2021

 The operation of the steel industry in the first half of 2021. From the perspective of domestic supply, my country's crude steel output increased substantially in the first half of 2021. Crude steel output reached 563 million tons, a year-on-year increase of 59.41 million tons, an increase of 11.8%; while the output of pig iron was 456 million tons, a year-on-year increase of 17.43 million tons, an increase of 4.0%.
   From the perspective of foreign supply, overseas crude steel output reached a record high. In the first half of the year, overseas crude steel output reached 440 million tons, a year-on-year increase of 66.86 million tons, an increase of 18.9%.
From the perspective of demand, the unexpected increase in domestic demand in the first half of the year was mainly driven by manufacturing exports and real estate investment; the financial subsidies of major overseas economies in response to the epidemic have greatly increased residents’ incomes and stimulated the demand for real estate and consumer durables. The mismatch of supply and demand in overseas manufacturing has stimulated the exports of major manufacturing countries such as China.
In general, if we do not consider changes in inventories and assume that supply equals demand, global crude steel supply and demand will increase by 126 million tons in the first half of the year, which has exceeded the World Steel Association’s forecast of 102 million tons for the whole year. The strong recovery of supply and demand exceeds Contrary to original expectations, the global black industry chain shows a trend that overseas is stronger than domestic, and raw materials are stronger than steel.
  The key points that need to be paid attention to in the operation of the industry in the second half of the year. The key points that need to be paid attention to in the operation of China's steel industry mainly include the following aspects:
 First of all, on the supply side, the reduction of steel production capacity and the reduction of crude steel output in 2021 will be the focus.
      Steel capacity reduction will focus on the inspection of the implementation of steel capacity reduction work and the implementation of rectification in all relevant regions since 2016. The first is to resolve excess steel production capacity and crack down on the shutdown and withdrawal of smelting equipment involved in "district steel"; the second is the construction and commissioning of iron and steel smelting projects; the third is the implementation of rectification of problems found in previous inspections; the fourth is the inspection of reporting clues and The situation of rectification; fifth is the work of the leading group for resolving excess steel production capacity; sixth is the work of reducing crude steel production in 2021. In 2021, the reduction of crude steel output will be based on the consolidation and improvement of iron and steel production capacity, adhere to the principles of marketization and rule of law, and focus on reducing the crude steel output of enterprises with poor environmental performance, high energy consumption, and relatively backward technology and equipment. , To avoid “one size fits all” and ensure that the country’s crude steel output in 2021 will fall year-on-year.

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