MPI: China’s steel demand expected to fall by 2.4 percent in 2019

Wednesday, 12 December 2018 11:48:35 (GMT+3)   |   Shanghai
       

Chinese domestic steel demand is expected to amount to 820 million mt in 2018, up 12.6 percent year on year, as announced by China Metallurgical Industry Planning and Research Institute (MPI). According to MPI director Li Xinchuang, Chinese domestic steel demand in 2019 is expected to total 800 million mt, down 2.4 percent year on year.

Based on steel consumption, net exports and production data for the January-October period of this year, it is estimated that China’s crude steel output will amount to 923 million mt in 2018, up 11.0 percent year on year, while its pig iron output will total 763 million mt, rising by 1.6 percent year on year. Based on the estimated pig iron output, China’s demand for 62 percent Fe-content iron ore will reach a total of 1.206 billion mt in 2018, up 1.6 percent year on year.

Moreover, MPI forecasts that China’s crude steel output in 2019 will total 900 million mt, down 2.5 percent year on year, while its pig iron output is expected to total 726 million mt, down 4.9 percent year on year, with the country’s demand for 62 percent Fe-content iron ore expected to fall to 1.147 billion mt in 2019, down 4.9 percent year on year.

MPI also foresees that global steel demand in 2019 will amount to 1.711 billion mt, up 0.2 percent year on year compared to the volume of 1.707 billion mt anticipated for 2018.


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