China’s manufacturing steel demand is expected to grow strongly in 2024. This increase is expected to be supported by high-tech sectors and equipment manufacturing in particular.
In the first eight months of 2024, the production of steel-consuming products grew by more than 6%, indicating an upward trend that is expected to continue in the coming years. These sectors are expected to be among the main drivers of steel demand in the future.
In response to this growth, the Chinese government has introduced various fiscal policies. Although real estate investments fell by 10.2%, it is stated that recent policy changes aim to stabilize the sector and increase consumer confidence. In addition, increasing exports to countries included in the Belt and Road Initiative stand out as a factor that will further strengthen China’s manufacturing steel demand.
Experts expect China’s steel demand to remain strong until 2025 due to local and international market conditions.
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