Chinese stainless steel domestic demand has room to grow
By Steel Guru , 2014-12-02 10:20:35
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During 12th to 14th November, 2014, China International Nickel & Cobalt Industry Forum 2014 was held in Shenzhen. Qin Yuan of Economy & Management Research Institution of Baosteel Group delivered a speech on Analysis and Outlook of Stainless Steel Market. The report elaborated China stainless steel industry’s demand at home and abroad.
Domestic demand: growth will slow down, but still has room to grow up. China’s stainless steel apparent consumption in 2014 is predicted to be around 15.8 million tonnes with growth of 6.6% hitting the record low level since 2010. As the economy is transforming from investment driven to consumption driven, second industry driven to third industry driven, steel consumption intensity of stainless steel will be in downward trend.
From the respect of per capita stainless steel consumption, China has exceeded North America and EU. However, from the view of stainless steel consumption in Taiwan region, China’s stainless steel demand still has room to grow up further in a short term. Speaking of downstream consumers, product structure and steel structure, domestic stainless steel industry has large structural potential space.
Overseas Demand: anti dumping fails to subdue export growth. Since 2010, stainless steel output of non China regions has been hovered around 19.2-19.8 million tonnes for four consecutive years.
It is doubted if the output could meet the rapid swelling demand. From the experience of carbon steel, export is directly related with overseas market demand. All in all, the anti-dumping won’t be a so negative to stainless steel export, and a rapid development on stainless steel export is expected.
