China annual steel consumption to peak at 900mln tonnes before falling to 700mln tonnes by 2035: CISA

China has reached peak annual steel consumption of 850-900 million tonnes, according to the China Iron and Steel Association (Cisa).

The country consumed 870 million tonnes of steel in 2018 and “such a level will last for several years" as the country's peak period of steel consumption, Cisa vice chairman Chi Jingdong said recently at the 17th International Steel Market and Trade Conference in Nanjing, China. Cisa expects China’s yearly steel consumption to fall to 750-800 million tonnes between 2020 and 2025, followed by a fall to around 700 million tonnes by 2035. The country’s economic growth will rely more and more on efficient production, meaning less steel consumption per unit of gross domestic product...

Published

Miranda Song

April 22, 2019

15:06 GMT

Shanghai