From May 26 to 27, the 2nd International Forum on Infrastructure Investment and Construction was held in Beijing. On the morning of the 27th, the forum held a sub-forum entitled “Development and Sustainable Development of Mineral Resourcesâ€. Li Xinchuang, executive deputy secretary-general of the China Iron and Steel Association and dean of the China Metallurgical Industry Planning Institute gave a speech on "The development of China's steel industry and iron ore market analysis."
Steel industry "three highs and two lows"
Li Xinchuang believes that it is necessary to study the development of the steel industry from a global perspective. Despite the global financial crisis, the global steel industry is still recovering rapidly in terms of the steel industry itself. In 2010, global steel production reached 1.414 billion tons, and this year it will maintain relatively rapid growth. However, from the perspective of the entire steel situation, he personally believes that the steel industry has entered a new stage of “high yield and low profitâ€, which is embodied in “three highs and two lowsâ€. The so-called "three highs" is the highest demand for the global steel market at a high level. Global steel production capacity has led to high global steel production, which is the second highest. As the raw materials needed for the development of the iron and steel industry and the support of the steel industry cannot be supplied in a timely and efficient manner, the third highest cost is that raw material costs remain high. This “three highs†has created “two lowsâ€. The first is that the current global steel industry, particularly the Chinese steel industry, has a very low efficiency as a whole. The second is that the entire industry is at a low level of development.
From the ninth five-year plan to the Eleventh Five-Year Plan period, the Chinese steel industry has maintained relatively rapid growth, with an average annual growth rate of more than 20%. Li Xinchuang believes that after entering the 12th Five-Year Plan period, China's steel industry will slow down, and its growth rate will remain in single digits. From January to April this year, the output of China's steel industry increased by 8.3%. In mid-May, the steel output reached a record high, reaching 1.98 million tons/day.
China's steel industry has strong global competitiveness. Li Xinchuang stated that in the past 7 years, the price of iron ore in China has increased by nearly 7 times. Although steel prices have increased, they cannot be compared with the increase in iron ore prices. He believes that the biggest crisis facing China's iron and steel industry is that the iron ore resources and resources guarantee system is not perfect. This is also the main reason that caused the soaring price of iron ore in China and the steel industry. In addition, he believes that China's steel industry is also facing enormous pressure for energy-saving and emission reduction.
Nevertheless, from January to April this year, China exported 15 million tons of steel, an increase of 17.3% year-on-year. This not only shows that the global steel market is developing well, but also proves that China's steel industry still has a strong global competitiveness.
Steel industry "three highs and two lows"
Li Xinchuang believes that it is necessary to study the development of the steel industry from a global perspective. Despite the global financial crisis, the global steel industry is still recovering rapidly in terms of the steel industry itself. In 2010, global steel production reached 1.414 billion tons, and this year it will maintain relatively rapid growth. However, from the perspective of the entire steel situation, he personally believes that the steel industry has entered a new stage of “high yield and low profitâ€, which is embodied in “three highs and two lowsâ€. The so-called "three highs" is the highest demand for the global steel market at a high level. Global steel production capacity has led to high global steel production, which is the second highest. As the raw materials needed for the development of the iron and steel industry and the support of the steel industry cannot be supplied in a timely and efficient manner, the third highest cost is that raw material costs remain high. This “three highs†has created “two lowsâ€. The first is that the current global steel industry, particularly the Chinese steel industry, has a very low efficiency as a whole. The second is that the entire industry is at a low level of development.
From the ninth five-year plan to the Eleventh Five-Year Plan period, the Chinese steel industry has maintained relatively rapid growth, with an average annual growth rate of more than 20%. Li Xinchuang believes that after entering the 12th Five-Year Plan period, China's steel industry will slow down, and its growth rate will remain in single digits. From January to April this year, the output of China's steel industry increased by 8.3%. In mid-May, the steel output reached a record high, reaching 1.98 million tons/day.
China's steel industry has strong global competitiveness. Li Xinchuang stated that in the past 7 years, the price of iron ore in China has increased by nearly 7 times. Although steel prices have increased, they cannot be compared with the increase in iron ore prices. He believes that the biggest crisis facing China's iron and steel industry is that the iron ore resources and resources guarantee system is not perfect. This is also the main reason that caused the soaring price of iron ore in China and the steel industry. In addition, he believes that China's steel industry is also facing enormous pressure for energy-saving and emission reduction.
Nevertheless, from January to April this year, China exported 15 million tons of steel, an increase of 17.3% year-on-year. This not only shows that the global steel market is developing well, but also proves that China's steel industry still has a strong global competitiveness.
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