China's API 5L grade B ms coil consumption reached a new high in 2020

In 2020, China's downstream industry recovered rapidly and API 5L grade B ms coil etc. steel consumption reached a new high. Under the influence of macro policies, the national economy is gradually recovering. Especially after the second quarter, as the country resumes work and production and stabilizes economic policies, major project investment is initiated, downstream industries such as machinery, automobiles, and home appliances have recovered rapidly. Economic indicators closely related to API 5L grade B ms coil etc. steel consumption have continued to improve, and steel consumption reached a new high.

In 2020, the apparent consumption of crude steel in China increased by 9% year-on-year, and the actual consumption of API 5L grade B ms coil etc. steel increased by about 7% year-on-year, including 10% in the construction industry and 4% in the manufacturing industry.