Chinese industry information provider Lange said that China’s apparent consumption of crude steel is expected to surpass 930 million tonnes by the end of 2019, 6% higher compared with last year and that the growth will mainly be driven by China’s strong domestic demand. Lange said “The thriving demand could be attributed to the country’s steadily expanding economy and the continued growth of fixed-asset investment in the country. China’s strong domestic demand will continue to be a major contributor to its steel consumption growth in the future.”
Combined apparent consumption of crude steel came in at 781.53 million tonnes during the first 10 months of the year, up 8.2% YoY.