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China's crude steel consumption to exceed 900m tons in 2019

  • Source: Xinhua
  • Nov.27,2019

China's apparent consumption of crude steel is expected to surpass 930 million tons by the end of 2019, industry information provider Lange said.

The number is 6 percent higher compared with last year and the growth will mainly be driven by China's strong domestic demand, according to Lange.

The thriving demand could be attributed to the country's steadily expanding economy and the continued growth of fixed-asset investment in the country.

Combined apparent consumption of crude steel came in at 781.53 million tons during the first 10 months of the year, up 8.2 percent year-on-year, according to statistics.

Export of crude steel, however, shrank by 5.8 percent year-on-year to about 55.09 million tons during the period, as mounting global economic downward pressure and increased protectionism dampened the export market, Lange said.

China's strong domestic demand will continue to be a major contributor to its crude steel consumption growth in the future, said Lange.