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China's Steel Demand is Expected to Remain Stable in 2017

Hunan Shinestar Steel Research Institute predicted that in 2017 China's economy will continue to maintain steady growth, steel demand is expected to remain steady, the downstream steel industry consumption will be flat or slightly down this year.


1 - in October 2016, the national production of iron, crude steel and steel production 586 million tons, 673 million tons and 673 million tons respectively, year-on-year growth of 0.05%, 0.73% and 0.05% respectively. Iron and steel production is relatively stable, a slight increase in steel production. So in 2016 as a whole, ChengShi of iron and steel group steel springboard, opened plate, hot rolled plate and so on outstanding product price is relatively stable.


Hunan Shinestar Steel Research Institute believes that the overall situation of the iron and steel industry in 2016 are better than last year, but the development process is complex, China's steel industry will gradually increase. Due to demand, and market expectations increase, steel prices since December of last year to present stabilising picks up momentum, but more frequently and amplitude fluctuations is bigger. Relevant data show that in late October CSPI steel composite price index was 80.35 points, up 35.2% year-on-year. But in October 1 - steel price index only average 71.45 points, up just 4.38% year-on-year.


Hunan Shinestar Steel Research Institute : China's economy will continue to maintain steady growth in 2017, steel demand is expected to remain stable. Machinery industry especially automobile industry will maintain steady growth, railway, traffic, city construction and other infrastructure investment will remain high. In 2017, the China iron and steel industry downstream consumption is expected to flat or slightly down this year.


In 2017, as an important period of China's steel production capacity to resolve the work, the measures comprehensively advancing industry, will be conducive to the steel market supply and demand contradiction of ease, the market is expected to further improve the overall environment. Iron and steel industry should conscientiously implement the state council "About the iron and steel industry to resolve the excess capacity to achieve out of the development of the opinions”, really solve the excess capacity and processing the zombie companies establish a market exit mechanism.


Hunan Shinestar Steel Research Institute believes that with the deepening of the dissolve excess capacity to work, the Chinese steel industry merger and reorganization, will speed up the pace of structural adjustment, countries will be in finance, credit, tax and other policies to give strong support, China's iron and steel enterprises should seize the opportunity, through the merger and reorganization, optimization of layout, realize the transformation and upgrading.


As a large steel production enterprises which base in China,supply service global ,Hunan Shinestar Steel Research Institute has made gratifying achievements in 2016, domestic and international trade double wave red, maintained top 100 enterprises in hunan province, its springboard, opened plate, hot rolled steel plate and other products also won the customer's highly recognized. In 2017 Shinestar will seize the opportunity, increase the intensity of product innovation, efforts towards a higher goal.