China’s steel supply exceeds demand in 2022, controlling production & focus on high-quality products producing would be wise solution
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Update time : 2023-01-06 19:20:52
In 2022, China’s steel industry faced a difficult situation. The recession real estate industry made steel requirements go down. In the first eleven months of last year, the new housing construction area decreased by 38.9% year on year, and steel demand fell by over 10%.
However, although the demand was low, the supply kept high. In the first eleven months of last year, China’s crude steel output merely decreased by 1.4% year on year. Furthermore, the raw material prices were high, so many steel manufacturers faced a deficit.
As a result, in order to maintain the steel market balance, steel mills should control their production, and focusing on producing high-quality products would be a wise solution.
