Steel Consumption: From 2024 to 2025, aside from declines in real estate and infrastructure sectors, steel consumption in other industries is expected to remain stable or show slight growth.
Government Regulation and Steel Industry: During 2024-2025, the Chinese government will continue to regulate the overall output of the steel industry.
Demand for iron ore and coke in China's steel industry is declining. From January to April 2024, crude steel and steel production in China reached 343.67 million tons and 451.03 million tons respectively, down 3% and up 2.9% year-on-year.
Steel imports decreased by 3.7% to 2.41 million tons, while exports increased by 27% to 35.02 million tons.
Apparent consumption of crude steel and steel reached 309.12 million tons and 418.41 million tons respectively, down 5.6% and up 1.3% year-on-year. It is expected that in 2024, China's crude steel and steel production will decrease by 1.9% and 1.7% respectively to 1 billion tons and 1.34 billion tons.
Steel imports are projected to be 7.5 million tons, exports at 100 million tons, and apparent consumption of crude steel and steel at 900 million tons and 1.248 billion tons respectively, down 3.2% and 2.5% year-on-year.
In 2025, apparent consumption of crude steel and steel is expected to remain relatively stable.