Chinese steel demand growth to stay flat next year

Growth in steel demand is expected to remain subdued in China next year as the government continues to shift its focus from manufacturing to services and steps up environmental protection measures.

Mr Wang Guoqing, research director at the Lange Steel Information Research Center said that “China’s steel demand may remain relatively stable in 2018. Real estate controls and environmental protection measures have weakened steel demand, despite higher demand due to infrastructure investment and mechanical products associated with the Belt and Road Initiative.”

During the first eight months of this year, China’s infrastructure investment grew 19.8% compared with the same period last year, and is expected to maintain a higher growth rate for the rest of the year.

Mr Li Xinchuang, deputy secretary-general of the China Iron and Steel Association said that “Domestic demand of steel products in the country is expected to see further growth next year, thanks to the robust development of the economy. Next year would be the first year for the country after the 19th CPC National Congress, which will promote economic growth with all strength, resulting in higher steel demand.” Source : CHINA DAILY Pipe Industry Co., Limited (www.wilsonpipeline.com)

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