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What challenges will China's steel industry face in 2023

What challenges will China's steel industry face in 2023
Dec 16, 2022 page view:30


Since this year, the operation of the iron and steel industry has faced difficulties and challenges such as falling prices, rising costs and declining benefits. Looking ahead to the industry situation, the domestic and international economic environment is still full of uncertainty and complexity factors, and China's steel industry will still face many difficulties and challenges in 2023. The international situation is complex and severe, the growth rate of steel demand has fallen back, and the global steel production has shown a downward trend. The domestic situation is mixed. The demand for steel is expected to be stable, but the overall trend is downward.

In the future, resources, energy and environment will restrict the development of steel industry. On the one hand, due to the national energy consumption constraint policy on high carbon emission production, the investment in energy conservation and emission reduction of iron and steel enterprises has increased significantly, and the operating cost of environmental protection equipment remains high, which brings great difficulties to the cost reduction, efficiency increase and sustainable development of iron and steel enterprises. On the other hand, the high prices of resources and energy products have seriously compressed the profit space of steel enterprises.

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