Demand For Steel In The Real Estate Sector Declines, Steel Consumption Structure Continues To Optimize

On September 19, the latest data from the National Bureau of Statistics showed that in August, steel production reached 116.52 million mt, a year-on-year increase of 11.4%. Among them, the output of rebar was 18.779 million mt, a year-on-year decrease of 1.7%. The output of medium-thickness wide steel strips was 18.012 million mt, a year-on-year increase of 33.2%. Industry insiders believe that rebar, as a typical representative of steel used in real estate and building materials, is shrinking in both proportion and growth compared to medium-thickness wide steel strips used in manufacturing. Benefiting from the improvement in the competitiveness of the Chinese manufacturing industry, related companies are becoming more and more enthusiastic about “going global”, which indirectly drives the strong growth of steel exports and effectively alleviates the impact of declining demand in the real estate sector.