Qu Xiuli, vice chairman and secretary-general of the China Iron and Steel Association (CISA), has stated at the 18th China Steel Industry Chain Summit held in Beijing that China’s crude steel output amounted to 935 million mt in the January-November period last year, down 1.4 percent year on year. Ms. Qu forecasted that China’s crude steel output in 2022 will amount to 1.01 billion mt, down 2.2 percent year on year.
Meanwhile, China’s steel exports are estimated at 68 million mt in 2022, up 1.0 percent year on year. The rise in the steel export volume was mainly due to the relatively high prices in the international market.
As for 2023, the demand for steel will likely recover due to the stimulus policies issued by China, which will exert a positive impact on the steel market. However, the global economy faces a risk of recession, which may bring strong pressure on direct and indirect exports of Chinese steel.