Although China's industrialization and urbanization process will support China's steel demand to remain at a high level in the next few years, China's steel industry is still facing structural overcapacity. Wu Dongying, president of Baosteel Group Economic Management Research Institute, recently predicted that construction Steel production capacity will face a serious surplus in 2 to 3 years.
Wu Dongying made the above remarks at the "Steel Industry Development Strategy Forum in the Process of Urbanization" sponsored by Lange Steel.
He said: "In the past two years, 9 trillion investment has led to the construction of a large number of basic timber materials for production. It is expected that after the next year, our construction materials will definitely have excess capacity, and it may be very good."
Wu Dongying pointed out that the future steel industry will be a period of low-speed growth, and this period of low-speed growth must be a market with oversupply.
He expects global economic growth to fall back in the second half of this year and points out that in the current economic environment, steel mills need to consider.
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