China Steel Industry Tariffs Report has been published today.
China is the world’s largest steel industry and has been recording fast growth rates in terms of both production and consumption for the past few years. The industry has benefitted from soaring steel demand in the automobile and construction sectors. Moreover, the cost effective and highly efficient steel making technologies worked as a catalyst and uplifted the Chinese steel demand in the Middle Eastern and Asian countries.
According to our new research report “China Steel Industry Analysis”, Chinese steel industry has traditionally been focusing on the production of long products, which are widely used in residential and non-residential construction (such as bars, wires, tubes, and sections). However, as per our research, the demand for flat products, which are used extensively in manufacturing (such as steel strips and sheets), has been growing at a much faster rate for the past few years compared to the long ones. We expect that the demand for flat products will grow at a CAGR of around 8% during 2018-2022, on the back of booming ship building, automobile, and machine building sectors.
Further, our report highlights that the global economic slowdown hampered the growth curve of various steel intensive industries, like construction in 2018 and its impact also fell on steel demand. However, the government’s stimulus package helped to boost the economic growth by injecting funds in various industries, such as construction, infrastructure, automobile, and power and thus, the steel industry again achieved a positive growth trajectory.
Our report “China Steel Industry Analysis”, is an outcome of an extensive research and conceptual analysis of the steel industry in China. The report provides detail information on forces, which have led the industry towards remarkable developments during the past few years. The report also presents an insight into the future outlook of various vertical industry segments, including automotive, construction, machine building, and ship building.