In 2019, although China's steel demand has increased a lot, the steel production is growing more strongly, which forms a heavy market pressure. It is worth noting that this situation of increasing steel production year after year is likely to end and really become the "end of the tether".
According to the latest statistics, in October 2019, the China crude steel output was 81.52 million tons, down 0.6% year-on-year; pig iron output was 65.58 million tons, down 2.7% year-on-year; steel output was 102.64 million tons, up 3.5% year-on-year; this is a great change from the situation of 8.4%, 6.3% and 10.6% growth respectively in the first nine months of this year, which may show a significant downward trend of steel and steel output growth in the future. According to this re calculation, it is predicted that the growth rate of crude steel production in 2020 will be about 3%, and the growth rate will obviously drop compared with that in 2019 (predicted value).
