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The total consumption of crude steel in China will reach 1 billion tons in 2019

In 2019, China's crude steel demand is strong at home and weak at abroad, with a substantial increase in total consumption, moving towards the 1 billion ton mark, showing three major characteristics.

I. Strong growth of domestic demand
According to the internationally accepted indicators, to measure a country's internal demand situation, we mainly look at its apparent consumption situation. According to the statistics, in the first 10 months of 2019, the apparent consumption of crude steel in China is about 781.53 million tons, up 8.2% year on year. It is expected that the demand for steel in the next few months of the year will remain good. The apparent consumption of crude steel in the whole year will be about 930 million tons, an increase of more than 6% over the previous year. This shows that China's domestic demand for steel in 2019 shows strong growth, rather than weak demand.

II. The export demand is obviously weakened
In 2019, the downward pressure on the global economy will increase, and trade protectionism will rise. The trump administration of the United States has even provoked a "trade war", and China's steel external demand environment will deteriorate. Affected by this, China's steel exports fell. According to statistics, from January to October 2019, China's steel exports reached 55.087 million tons, down 5.8% year on year. It is expected that the decline of steel export throughout the year will be hard to change.

III. Total consumption is still strong
The strong growth of China's domestic steel demand has completely wiped out the drag of export weakening, which makes the total consumption of China's steel in 2019 (domestic demand plus export demand in the same period) still strong. According to statistics, in the first 10 months of this year, the total demand for crude steel in China is about 840 million tons, an increase of about 8% year on year.