World Steel Association's expectation of 1% steel demand in China in 2020 is low

The third quarter of 2019 information conference of China Iron and steel industry association was held in Beijing. In the first three quarters of this year, the iron and steel industry generally maintained a relatively stable development trend. Steel production increased year on year. In the first three quarters, the output of pig iron, crude steel and steel materials was 612 million tons, 748 million tons and 909 million tons respectively, up 6.3%, 8.4% and 10.6% year on year.

Qu Xiuli, vice president of China Iron and Steel Industry Association, pointed out that the World Steel Association predicted that growth would decline next year. She said that this year's increase in steel is mainly in China, while next year's growth is expected to be mainly in Vietnam and Latin America. Next year's growth in steel demand for China is only about 1%. The global steel demand will change next year. But we think the steel demand expectation of 1% may be lower.