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China’s steel consumption falls in Q1

China’s steel consumption fell 5 percent year on year during the first quarter of the year (Q1) partly due to waning demand as the resurgence of domestic COVID-19 cases slowed down the construction of many projects.

From January to March, steel consumption of the building industry dropped 7 percent from a year ago, while that of the manufacturing sector dipped 2 percent, said Qu Xiuli, vice chairperson of the China Iron and Steel Association.

The global uncertainties also caused a decline in steel exports and imports, she said.

However, China’s whole-year steel consumption will likely remain flat from that of last year with the implementation of measures to stabilize growth, said Shi Hongwei, deputy secretary-general of the association.

“The previously pent-up steel consumption will not disappear. It will only be delayed,” Shi said.

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Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

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AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

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