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The steel industry in 2020 is not optimistic

The steel industry in 2020 is not optimistic

  • Categories:Industrial News
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  • Time of issue:2020-05-25 15:35
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(Summary description)As we all know, the downstream demand for steel mainly comes from the construction industry (including real estate and infrastructure).

The steel industry in 2020 is not optimistic

(Summary description)As we all know, the downstream demand for steel mainly comes from the construction industry (including real estate and infrastructure).

  • Categories:Industrial News
  • Author:
  • Origin:
  • Time of issue:2020-05-25 15:35
  • Views:
Information

  As we all know, the downstream demand for steel mainly comes from the construction industry (including real estate and infrastructure). As a core element, the demand directly driven by it accounts for about 53.5% of steel consumption. At the same time, it will drive the indirect use of steel for construction machinery, heavy trucks, and home appliances. The construction industry accounts for about 80% of steel, so the core change in steel consumption is the construction industry, and the construction industry is mainly infrastructure and real estate.

  At the end of 2019, a new type of coronavirus broke out in Wuhan and spread across the country. To curb the epidemic, cities and villages have been closed in many places across the country, which has had a major impact on the Chinese economy. And steel consumption is closely related to economic growth. At present, the epidemic has a major impact on service industries such as transportation, catering, movies, and tourism. It also has a certain impact on investment in manufacturing, real estate and infrastructure.

  At present, the epidemic is still continuing to ferment, and it has a certain impact on my country's consumption, investment and exports. This has caused a decline in the production and demand of steel and related manufacturing industries. The short-term impact has already occurred. In the long run, the impact of the epidemic on the economy will surpass that of SARS, and its degree of harm is mainly determined by the duration of the epidemic. The longer the duration, the greater the impact and the greater the harm.

The steel industry in 2020 is not optimistic

  Considering the impact of the epidemic on my country’s economy and various industries, and considering my country’s economic growth after the epidemic is lifted, we believe that my country’s steel consumption is more likely to occur under a neutral scenario or even under a pessimistic scenario, that is, my country’s steel consumption in 2020 is 848 million tons-869 million tons is more likely, down 2.9%-5.3% year-on-year.

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