Posted on 05 Aug 2015
Beijing China won the bid to host the 2022 Olympic Winter Games at the 128th International Olympic Committee session in Kuala Lumpur Malaysia on July 31, which is expected to drive the rebound of China's steel industry over the next seven years and rekindle the hope for steel industry in some Chinese mills.
According to the Beijing 2022 Olympic Winter Games Bid Committee's plan, there will be three relatively gathering venue clusters in Beijing area, Yanqing, and Zhangjiakou Chongli. A high-speed railway from Beijing to Zhangjiakou is now under planning as snow items of Olympic will be held in Zhangjiakou. The demand for construction steel will be significantly boosted by construction of railway, venue, the surrounding real estate projects, road, and bridge.
It is estimated the Winter Olympic will indirectly spur an annual 55 million tonnes of construction steel demand in 2016 to 2022, including 44 million tonnes demand for housing construction and 11 million tonnes for infrastructure construction.
Analysts said the demand for steel structure and quality steel will also be greatly stimulated, and large and medium-sized steel enterprises will benefit from this wave, such as Hebei Iron and Steel Group, Shougang Group, both are large steel enterprises adjunct to Winter Olympic Games centers, and Hangxiao Steel Structure Co. Ltd (HXSS) - the first steel structure listed company in China.
