China's steel industry will present four major trends in 2021

In 2021, China's steel industry will present four major trends:
First, the macro policy is stable, and steel consumption has increased slightly. This year, the country's economic policy to deal with the epidemic will have a certain degree of continuity. The "six stability" and "six guarantees" work will provide a strong guarantee for steel demand, so steel demand will maintain a small increase.

Second, because the current global epidemic has not yet been fundamentally controlled, the international steel demand and production recovery are still facing many difficulties. With the domestic steel market demand continuing to grow, the decline in steel product exports and the increase in imports will continue.

Third, the cost pressure of steel enterprises is rising, and it is more difficult to improve efficiency. Since the fourth quarter of 2020, the price of iron ore has risen rapidly. On January 18, China's iron ore price index reached 62%, and the price of imported iron ore rose to US $171.6/t, a nine-year high. When steel prices are difficult to rise sharply, steel companies have an arduous task of reducing costs and increasing efficiency.

Fourth, under the constraints of 2030 "carbon peak" and 2060 "carbon neutral" goals, the iron and steel industry will be the key industry of low-carbon emission this year. It is imperative to reduce resource energy consumption, study low-carbon path and solve the difficulties of low-carbon development.