Data reference for the development of the steel industry

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After entering the 21st century, the growth rate of China's steel consumption and production has significantly accelerated. According to data released by the International Iron and Steel Institute (IISI), global consumption of steel reached 1.2085 billion tons in 2007, an increase of 7.4%; In 2008, it reached 1.278 billion tons. The growth in global steel consumption mainly comes from Brazil, Russia, India, and China, with an average consumption growth rate of 12.8% in 2007 and 11.1% in 2008. China is the world's largest producer, consumer, and net exporter of steel, with a consumption of 435 million tons in 2007, accounting for 36% of the world's total steel consumption; 

In 2008, it reached 453 million tons, accounting for 35.5% of the world's total steel consumption. The latest data from China Steel Association shows that the apparent consumption of crude steel in China from January to October 2009 was 472.88 million tons, a year-on-year increase of 88.39 million tons, an increase of 23.0%. 

It is expected that the annual apparent consumption of crude steel will exceed 565 million tons. Meanwhile, data from the 43rd annual meeting of the International Steel Association held in Beijing in October showed that in 2009, due to the global economic crisis, global apparent steel consumption was 1.104 billion tons, a significant decrease compared to 2008. It is expected that in 2010, the global apparent consumption of steel will reach 1.2056 billion tons, an increase of 9.2% compared to 2009, equivalent to 1.339 billion tons of crude steel. The steel consumption in the Chinese market has increased by 5%, and the United States is expected to increase by 19%.

Comparison of crude steel consumption in major steel producing countries from 1995 to 2007

The cyclical fluctuation of steel prices is a comprehensive reflection of the market cycle in the steel industry, which is the result of the chain effect of price efficiency investment production capacity supply and demand. Overall, there are several main factors that affect changes in steel prices: firstly, production costs, which are the basis for changes in steel prices; The second is the supply and demand relationship, which is a key factor affecting the changes in steel prices; The third is the market system, where a flawed market system may amplify the imbalance between supply and demand, causing significant fluctuations in prices.