A worker is busy working at the production line of a special steel production enterprise in Haibowan District of Wuhai City, north China's Inner Mongolia Autonomous Region, April 22, 2020. (Photo by Li Zhipeng/Xinhua)
BEIJING, Nov. 30 (Xinhua) -- Crude steel output in China is expected to exceed 1 billion metric tons (tonnes) this year, a year-on-year increase of about 5 percent, estimated by the China Iron and Steel Association (CISA), according to Qu Xiuli, vice chairperson and secretary-general of the CISA at a recent steel conference held in Beijing.
Although it has entered winter, the overall situation of the domestic steel industry remains stable, said Qu.
Regarding performance of the domestic steel market in 2021, Qu predicted that the steel market will remain relatively stable in 2021, and steel prices may be slightly higher than in 2020, but will generally remain stable.
The country's steel production is projected to continue to grow next year with the output likely to exceed 1.1 billion tonnes, said Han Weidong, vice president of Youfa Steel Pipe Group, at the conference.
During the 14th Five-Year Plan period from 2021 to 2025, China's economic growth rate will be between 6 percent and 8 percent, and apparent steel consumption will grow by 3 to 4 percent, and there is room for growth in the demand for steel, according to Cai Jin, vice chairman of the China Federation of Logistics & Purchasing (CFLP). (Edited by Hu Pingchao with Xinhua Silk Road, hupingchao@xinhua.org)
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