A worker conducts quality check on steel rolls at a factory of Ben Gang Group Corporation in Benxi, northeast China's Liaoning Province, Aug. 18, 2021. (Xinhua/Yang Qing)
BEIJING, Dec. 16 (Xinhua) -- China's steel demand in 2022 is expected to reach 947 million tons in 2022, down 0.7 percent year on year, reported Economic Information Daily Thursday citing a report.
China Metallurgical Industry Planning and Research Institute made the forecast in its recently released report on China's steel demand.
According to the report, China's steel demand will reach 954 million tons in 2021, down 4.7 percent year on year.
Li Xinchuang, chief engineer of China Metallurgical Industry Planning and Research Institute noted that, looking forward, China will continue to implement positive fiscal policies and prudent monetary policies for a steady growth in economic recovery, providing effective support to maintain stable steel demand.
By 2022, it is estimated that the demand for steel will continue to grow in industries such as machinery, car, shipbuilding, household appliance, railway, bicycle, and motorcycle. However, for industries like architecture, energy, container, hardware and furniture made of steel and wood, the demand for steel is expected to fall.
(Edited by Zhang Yaru with Xinhua Silk Road, mcxmzyr2@163.com）
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