The Metallurgical Industry Planning and Research Institute recently released the forecast results of my country’s steel demand in 2024, which shows that with the support of future policies, the decline in my country’s steel demand is expected to slow down in 2024.
Xiao Bangguo, deputy director of the Metallurgical Industry Planning Institute, introduced that this demand forecast uses the steel consumption coefficient method and the downstream industry consumption method to comprehensively predict my country’s steel demand in 2023 and 2024 respectively, taking into account the characteristics and characteristics of different methods. The results obtained by these two methods are weighted based on their respective limitations. my country’s steel consumption is expected to be 890 million tons in 2023, a year-on-year decrease of 3.3%; my country’s steel demand is forecast to be 875 million tons in 2024, a year-on-year decrease of 1.7%, with the decline significantly narrowing.
From the perspective of steel consumption coefficient, my country’s steel consumption is expected to be 878 million tons in 2023, and my country’s steel demand in 2024 is 863 million tons.
From the perspective of downstream industry demand, my country’s steel consumption is expected to be approximately 899 million tons in 2023, and my country’s steel demand is forecast to be approximately 883 million tons in 2024, a year-on-year decrease of 1.8%.
Chopin said that in 2024, my country will continue to implement active fiscal policies and prudent monetary policies, focus on expanding domestic demand, and provide effective support for the overall stability of steel demand. It is expected that the demand for steel in industries such as machinery, automobiles, energy, shipbuilding, home appliances, and containers will increase in 2024, while the demand for steel in industries such as construction, hardware products, railways, steel and wood furniture, bicycles and motorcycles will decline. Comprehensive forecast of my country’s steel demand in 2024 A slight decrease.
“Although the comprehensive forecast is that China’s steel demand will decline slightly in 2023 and 2024, with the support of future policies, the decline in China’s steel demand is expected to slow down in 2024.” Cho Bangguo said.
At this meeting, the 2023 competitiveness (and development quality) rating of Chinese steel companies was also released. Fan Tiejun, director of the Metallurgical Industry Planning and Research Institute, said that a total of 107 steel companies have entered the assessment scope for this rating, with a total crude steel production of approximately 950 million tons, accounting for approximately 93.0% of the country’s total production, which is the same as last year’s 109 companies and crude steel production. Compared with accounting for 90.9% of the country’s total output, we can see that the concentration of enterprises has increased significantly.
Among them, the competitiveness (and development quality) of 18 steel companies including Baowu Group, Anshan Iron and Steel Group, Hegang Group, and Ruixiang Steel was rated A+ (very strong), accounting for 16.8% of the total number of steel companies evaluated, and the total crude steel output Accounting for 52.5% of the country’s total output. The competitiveness (and development quality) of 39 regionally strong steel companies, including Ningbo Steel, Jingxi Steel, Yonggang Group, and Baotou Steel Group, was rated A (extra strong), accounting for 36.4% of the total number of steel companies evaluated. The total crude steel output accounts for 27.5% of the country’s total output.
Fan Tiejun said that this rating highlights the innovation capabilities of enterprises. At this stage, my country’s steel enterprises have obvious development characteristics of leading in scale, leading in equipment, leading in green, leading in technology, and leading in service. The next step should be to further enhance the internationalization level of the steel industry chain and promote Enterprise mergers and reorganizations, strengthening innovation layout, and improving risk resistance capabilities. (Economic Information Newspaper)
Post time: Dec-27-2023