China’s Steel Industry Output Will Remain The Same In 2018

2018 China stainless steel outlook

According to the report by the Metallurgical Industry Planning and Research Institute, the growth of China”s steel industry would slow down in 2018, and the output of crude steel was estimated at 838 million tons.

Although it was still going to keep the capacity, it has benefited from the over-expected global economic recovery and steady development of its domestic economy.

Since the beginning of this year, China”s steel output has maintained a rapid growth.

According to the National Bureau of Statistics data showed that from January to October 2017, China”s crude steel output was 710 million tons, increased by 6.1% compared with the same period of last year; that of pig iron production was 603 million tons, increased by 2.7% compared with the same period of last year.

Demand for steel in various regions of the world would continue to grow in 2018. Among them, the proportion of Asian steel consumption still ranked first in the world, accounting for about 65.9%.