China's steel consumption falls in Q1

  • Friday, May 13, 2022
  • Source:ferro-alloys.com

  • Keywords:China steel consumption
[Fellow]"The previously pent-up steel consumption will not disappear. It will only be delayed," Shi said.

[Ferro-Alloys.com]

 

China's steel consumption fell 5 percent year on year during the first quarter of the year (Q1) partly due to waning demand as the resurgence of domestic COVID-19 cases slowed down the construction of many projects.
 
From January to March, steel consumption of the building industry dropped 7 percent from a year ago, while that of the manufacturing sector dipped 2 percent, said Qu Xiuli, vice chairperson of the China Iron and Steel Association.
 
The global uncertainties also caused a decline in steel exports and imports, she said.
 
However, China's whole-year steel consumption will likely remain flat from that of last year with the implementation of measures to stabilize growth, said Shi Hongwei, deputy secretary-general of the association.
 
"The previously pent-up steel consumption will not disappear. It will only be delayed," Shi said. 
Source: Xinhua

 

  • [Editor:kangmingfei]

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