Posted on 09 Dec 2014
According to a report released by the China
Metallurgical Industry Planning and Research Institute, China's steel demand is
forecast to rise 1.41% YoY to reach 720 million tonnes in 2015. The steel
consumption for 2014 is estimated to grow 2.45% YoY to 710 million tonnes.
It also predicted that China's crude steel production will increase by 5.26%
and 1.7% from a year earlier to 810 million tonnes and 834 million tonnes,
respectively, in 2014 and 2015 and the country’s pig iron production will reach
720 million tonnes and 732 million tonnes, a gain of 1.56% and 1.67%.
Iron ore demand for 2015 is forecast to hit 1.157 billion tonnes, a YoY growth
of 1.67%. Iron ore imports next year are expected to grow 6.4% YoY to 1 billion
tonnes. The report also gave projections for demand from steel-consuming
downstream sectors.
Mr Li Xinchuang, head of the industry body said that "The steel
consumption from downstream sectors will only maintain modest growth next year
amid a slowdown in economic growth and exports. The steel consumption growth
from almost all the sectors will decline. The steel consumption from the
building and machinery industries is predicted to rise by 1.28% and 3% YoY to reach
395 million tonnes and 144 million tonnes in 2015, with the pace narrowing from
the estimated 2.4% and 5.3% in 2014.”
