Forecast: Raw Steel Production in China

China's raw steel production reached 1,055.5 million metric tons in 2023, seeing a steady increase despite slight fluctuations over the past years. After a decline of 2.25% in 2015 and another significant dip of 14.35% in 2020, production rebounded sharply, with a notable 26.61% rise in 2021. By 2023, growth stabilized with a 2.74% increase. The Compound Annual Growth Rate (CAGR) over the past five years has averaged 2.6%. Future forecasts suggest continued growth, with a projected CAGR of 2.05% from 2024 to 2028, leading to a growth rate of 10.67% over these five years.

Future trends to watch for include:

• Potential impacts of environmental regulations on production capacity.
• Technological advancements improving production efficiency.
• Global market demands and trade policies influencing export dynamics.
• Shifts in domestic infrastructure projects driving local steel consumption.