The operating status of the steel industry in the first quarter

In the first quarter of 2023, China's steel industry overall operating status remained stable. Domestic crude steel production reached 299 million tons, down slightly by 0.6% YoY. The import volume of iron ore was 215 million tons, up by 1.2% YoY.

In terms of market demand, the demand for construction steel weakened due to factors such as macroeconomic conditions and real estate regulation. However, strong demand from industries such as automobiles, home appliances, and machinery drove up prices of medium and thick plates, cold-rolled sheets, and other products.

Moreover, with the continuous advancement of environmental protection policies, steel companies' production capacity and technical level have improved, and air pollution has been effectively controlled.

Overall, China's steel industry has achieved high-quality development under the guidance of national policies. In the future, with the implementation of the "14th Five-Year Plan" and the acceleration of green transformation, the steel industry will continue to develop towards high efficiency, intelligence, and greenization.