Did China just call peak steel for itself?

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.

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