China's steel industry is expected to take the lead in recovery

December 31, 2022

On the theme of “Steering the trend and looking for opportunities” at the 2009 China Steel Market Outlook and “My Steel” Network Annual Meeting held on the 6th, Qi Xiangdong, executive deputy secretary-general of the China Iron and Steel Association pointed out that with the country’s ten policies to expand domestic demand, The introduction of China's steel industry in 2009 is expected to take the lead in recovery.

Qi Xiangdong said that at present, China's steel prices have fallen back to 1994 levels. According to statistics released by the China Iron and Steel Association for the steel industry in October, 71 large and medium-sized steel companies included in the statistics recorded a total loss of 5.835 billion yuan in October. This is the first time that China's steel industry has suffered a monthly loss for six consecutive years. However, he believes that the industry most directly benefiting from the expansion of domestic demand policies is the steel industry. In addition, the country has cancelled 67 steel tariffs on tariff lines since December 1. This indicates that the country has made major adjustments to its steel export policies and will help improve China's steel international competitiveness.

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