Did China just call peak steel for itself?

Advertisement

Via Reuters:

The world’s top steel producer is expected to churn 981 million tonnes of crude steel in 2020 and 988 million tonnes in 2019, according to Li Xinchuang, president of the China Metallurgical Industry Planning and Research Institute. Steel demand in China is expected to fall 0.6% year-on-year to 881 million tonnes in 2020, but rise 7.3% to 886 million in 2019, Li said.

Demand for steel in the construction industry is expected to rise 11.2% this year to 478 million tonnes. But it is seen slipping 0.6% to 475 million tonnes in 2020, Li said.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.