Steel demand in China for 2020 will rise to 890mn mt, a year-on-year increase of 2pc, as per a China Iron and Steel Association forecast released on Monday, Jan 13.
The government agency cited a World Steel Association forecast for steel demand in China in 2020 being an increase of 1pc over 2019, arguing that investment in infrastructure in the world’s biggest consumer of steel will keep demand at 2pc higher, at least. As per China Metallurgical News, total steel demand in China in 2019 was at 875mn mt, a year-on-year increase of 6pc.
Of all the forecasts for 2020 steel demand, the Metallurgical Industry Planning and Research organisation of China believes steel demand will be at 981mn mt in 2020; the most bullish forecast by far.