BULKS

"[China's] consumption of steel in 2017… [is expected to] increase by 7.7%

China’s consumption of steel is expected to increase 7.7% to 725 million tonnes in 2017, according to the China Metallurgical Industry Planning and Research Institute.

Staff reporter
Chinese steel production has shown resilient growth this year

Chinese steel production has shown resilient growth this year

The institute outlined its latest research and forecasts at a conference held in Beijing this week.

However, it forecast China's steel demand would increase less dramatically in 2018, by 0.7% to 730Mt.

In a translated statement, the institute calculated iron ore demand was expected to rise 1.3% in 2017 to 1.122 billion tonnes, with an external dependence of 88.4%.

It forecast a "micro-drop" in iron ore demand of 0.2% in 2018 to 1.12Bt.

Real estate construction, machinery, automobiles, energy and shipbuilding would be the main contributors to the country's continued steel demand, China Daily reported.

Institute president Li Xinchuang said the country would continue to cut unregulated and substandard steel mill capacity, the news outlet reported.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.