China’s steel industry is rapidly transforming, accelerating optimization of steel varieties to align with national industrial restructuring, according to the China Iron and Steel Industry Association (CISA). At a recent council meeting, CISA head Yao Lin highlighted the industry’s strides in adapting to changing market demands and embracing advanced technologies.
In the first half of this year, production shifted notably. While output of steel primarily used in construction, bridges, and machinery experienced a year-on-year decline, there was a significant increase in steel production for the automotive and shipbuilding sectors. This shift reflects China’s strategic focus on high-tech industries and sustainable development.
“Despite challenges such as market supply and demand imbalances, falling steel prices, high raw material costs, and low economic efficiency, the overall production and operation of the industry have remained stable,” Yao Lin stated. He emphasized that the ongoing transformation and upgrading have effectively met the higher demand for specialized steel products in downstream industries.
The steel industry’s commitment to green transformation has accelerated, with intelligent manufacturing undergoing substantial upgrades. Currently, 79.6% of enterprises have adopted industrial internet technologies to achieve smart production process control, enhancing efficiency and reducing environmental impact.
Yao Lin pointed out that the manufacturing industry will continue to be the main driving force supporting the steel sector. The rapid development of new energy vehicles, increased orders for new energy-powered ships, and the accelerated renewal of older vessels are bolstering demand for specialized steel products. Additionally, large-scale equipment renewal presents significant opportunities for the equipment manufacturing industry.
“The steel industry’s evolution is not just about adapting to market changes but also about leading the way towards a more sustainable and technologically advanced future,” Yao concluded. The industry’s proactive approach positions it well to meet both domestic and international demands, contributing to China’s role in global economic growth.
Reference(s):
China's steel industry speeds up steel variety structure optimization
cgtn.com
