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Steel demand forecast of major regions in the world in 2020 and 2021

In terms of the global pattern, the global steel consumption in 2020 will be 1.747 billion tons, a year-on-year decrease of 2.5%; in addition to a small increase of 1.7% in Asian steel demand, there will be a "double-digit" decline in the Middle East, North America, Africa and other regions.

Looking forward to 2021, China's steel demand is expected to be 991 million tons, with a year-on-year growth of 1.0%. China's crude steel production is expected to further climb to 1.065 billion tons, with a year-on-year growth of 1.4%.

In 2021, China's economy and investment in fixed assets will maintain a rapid growth trend. The steel demand of construction, machinery, automobile, energy, household appliances and other industries will increase slightly, but the steel demand of shipbuilding industry will continue to decline.

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