As previously reported by SteelOrbis, China’s steel demand in 2020 is expected to amount to 890 million mt, up two percent year on year, as forecast by the China Iron and Steel Association (CISA) at its members’ conference on January 11.
According to the latest report issued by the CISA, steel demand from the Chinese construction industry is expected to amount to 145 million mt in 2019, up three percent year on year, and will likely reach 148 million mt in 2020, up two percent year on year.
Steel demand from the domestic automobile industry is estimated to total 52.0 million mt in 2019, down five percent year on year, while reaching 51.0 million mt in 2020, down two percent year on year.
Meanwhile, steel demand from the Chinese shipbuilding industry is expected to amount to 16.0 million mt in 2019, up three percent year on year, while totaling 15.0 million mt in 2020, down six percent year on year.
At the same time, steel demand from the home appliance industry in China is foreseen to reach 13.6 million mt in 2019, up five percent year on year, and will total 14.0 million mt in 2020, up three percent year on year.