Crude steel production in developing countries for the next five years or 70% of the world

Rasimi Mittal, chairman of ArcelorMittal, revealed that in five years, crude steel production in developing countries will account for 70% of the world's total. Among them, China's production will account for the majority, and India will become the world's second largest producer of crude steel in 2015-2016, and India last year ranked fifth.

Rashmi Mittal believes that the output of crude steel in developed countries will return to pre-crisis levels within two years, but there is limited room for further growth. However, the steel industry in developed countries will play a leading role in the development of light and environmentally friendly steel products.

According to the latest statistics released by the National Development and Reform Commission, China's cumulative production of crude steel in the first quarter was 173.5 million tons, an increase of 9.8% year-on-year, with an average daily output of 1,927,800 tons, which was the highest in the same period. The data of China Steel Association also shows that in the first half of April, China’s crude steel production was estimated at 1979.2 million tons, which was a 2.4% increase compared to the previous period.

In response, Qiuyue Cheng, a senior researcher from the national price monitoring fixed-point unit “Nishimoto Shinkansen,” told reporters that domestic steel production has grown rapidly, and steel stocks have declined but are still at a high level. It is expected that the domestic market will still exceed supply in the future. . However, taking into account the recent sharp increase in China's net steel exports, the short-term domestic crude steel market supply pressure will be reduced.