China's steel demand is expected to decrease slightly in 2022

According to the prediction results of China's steel demand in 2022 released by metallurgical industry planning and Research Institute, through the comprehensive prediction of China's steel demand in 2021 and 2022 by using steel consumption coefficient method and lower industry consumption method, it is estimated that China's steel consumption in 2021 will be 954 million tons, a decrease of 4.7% over the same period; It is predicted that China's steel demand will be 947 million tons in 2022, a year-on-year decrease of 0.7%.

Looking forward to 2022, Li Xinchuang, party secretary and chief engineer of metallurgical industry planning and Research Institute, said that China will continue to implement active fiscal policy and prudent monetary policy, the trend of sustained economic recovery and development will not change, and moderately advance infrastructure investment to provide effective support for the overall stability of steel demand. The demand for steel in industries such as machinery, automobile, shipbuilding, household appliances, railways, bicycles and motorcycles maintained a growth trend, but the demand for steel in industries such as construction, energy, containers, hardware products and steel wood furniture decreased.