SunSirs: Chinese Steel Demand Maintains Above 800 Million Tons by 2030
August 28 2025 10:44:17 SunSirs from China Iron and Steel Association (lkhu)
Xia Nong, vice president of the China Iron and Steel Association, delivered a keynote speech titled "Research on the Operation of the Iron and Steel Industry and the Development ideas for the '15th Five-Year Plan' and Beyond" on the 22nd. Regarding the development situation faced by the iron and steel industry, Xia Nong stated that looking ahead to the "15th Five-Year Plan", the global urbanization rate is still on the rise, the long-term demand for infrastructure investment is clear, and the incremental demand for special steel in high-end equipment, wind power, and photovoltaic new energy fields, as well as the growth in steel consumption for key components of new energy vehicles, will form a demand support. However, the trend of vehicle lightweighting and the contraction of demand for traditional fuel vehicles may inhibit the total growth rate. It is expected that the combined share of the construction, machinery, and automotive sectors will still maintain around 80%, and the global steel consumption structure will remain generally balanced. By combining the consumption model method of the steel-consuming industry and the per capita consumption intensity measurement method, it is found that overall, the domestic steel demand in the next 10 years shows a fluctuating downward trend, and it is still expected to maintain a quantity of more than 800 million tons in 2030.
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