The "2021 China Steel Demand Forecast Results" released by the China Metallurgical Industry Research and Research Institute predicts that by 2021, China's steel consumption will reach 991 million tons, a year-on-year increase of 1%.

　　The report states that steel demand in the construction and machinery industries will continue to grow next year. It is estimated that the demand for steel in the construction industry will reach 58 million tons, and the demand in the machinery industry will reach 160 million tons.

　　In the first 11 months of this year, China's crude steel output rose 5.5% year-on-year to 960 million tonnes, and is expected to reach 1.05 billion tonnes for the whole year, up 5.4% year-on-year, which is the first time that China's steel output has exceeded the 1 billion tonnes. China's steel consumption in 2020 hit a record 981 million tonnes, significantly exceeding previous expectations, with nearly 100 million tonnes of new steel consumption for the year, which is even higher than the annual output of Japan, India and the United States.

　　In 2020, except for Asia, steel consumption in other parts of the world will show a downward trend; Among them, the Middle East, North America and Africa were the top three decliners, down 15.5%, 14.3% and 13.9% year-on-year, respectively. The main reason for the rise in steel consumption in Asia is that China's steel consumption increased by 9.6% year-on-year, which strongly supported the year-on-year growth of 1.7% in steel consumption in Asia.