In 2020, facing the severe challenge caused by Covid-19, the Chinese economy maintained a stable growth, which has provided a good environment for steel industry development.

The industry produced over 1 billion tons of steel during the past year. However, China’s total steel production would be further reduced in 2021, the Chinese steel market still had huge steel demand to be met.

As favorable policies stimulate more steel importation to flow into the local market, it seems that the importation has already been decided to increase.

According to analysts, in 2021 China’s steel product, billet, and rough forged part importations may reach a total quantity of about 50 million tons.