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China iron and steel will be more mergers and acquisitions
  • 2017-04-02

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The global iron ore and steel forecasting conference was held in Australia in 30th March 2017. China steel industry association deputy secretary-general/ planning institute director of metallurgy industry li xinchuang said overcapacity of steel is a global problem. It shouldnot be just China proble. China's steel demand will be reduced by 1.9% in 2017. And it will reduce 140 million tons of excess steel production capacity.

Li xinchuang forecasted iron ore prices between 55 to 90 dollars per ton in 2017 and Global iron ore supply in 2017 1.52 billion tons compared to 1.026 billion tons 2016.In the future China's steel industry will be more mergers and acquisitions.

In 2016,due to the automotive/construction and real estate demand ,China's steel actual consumption is up to 673 million tons. It is up 1.3% from a year earlier. Along with the global steel industry development trend, China's steel industry have embarked on a reduction of innovation and development stage.
Regard to future supply and demand of iron and steel industry, according to the metallurgical industry planning research, institute predicted that China's actual demand is 660 million tons  in 2017. It  fells 1.9% year on year.

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