There is still much room for the demand of China's steel industry

At the 5th China Steel Trade Summit Forum recently held, Wang Yingsheng, director of the Market Research Department of the China Iron and Steel Association, said that there is still much room for China's steel industry.

At present, China's urbanization rate is not as high as that of developed countries. For example, in the United States, Japan, Germany, and France, the urbanization rate is 73%, 74%, and 80%. The development of the iron and steel industry has reached its limit.

However, the urbanization rate in China has not yet reached this level. Therefore, with the increase in the urbanization rate, the demand for the steel market is not small. In addition, with the development of the automotive industry, the proportion of automotive steel has risen significantly in recent years. On the whole, the apparent consumption of the domestic steel industry has increased by more than 10% in the past 10 years.