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The development characteristics of China's iron and steel industry

Posted:2021-04-22 17:26:10

Steel industry, as the basic industry of national economy, provides important support for the rapid development of China's economy, and steadily supports the high-quality development of China's manufacturing industry, and has now developed into the industry with the most global competitiveness in China. As a typical technology intensive industry, China's steel industry takes technological innovation as the first driving force, providing important infrastructure materials and functional materials for the improvement of people's quality of life. It is not only leading the world steel green revolution, but also will lead the development of the world steel industry for a long time.

Since last year, China's steel industry has been operating at a high level, with the profit level of steel enterprises improving, and steel consumption has grown rapidly. China's huge steel demand has made important contributions to the recovery and development of the world's steel industry. Moreover, China's steel trade will show new changes in 2020. The recovery of domestic steel market will lead to a substantial increase in steel imports, shrinking overseas market and strong domestic demand, which results in a sharp decline in steel exports and continuous optimization of steel import and export structure. But at the same time, China's steel industry is still facing the severe challenges of keeping iron ore prices high.