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CISA: China’s 2020 steel demand growth to slow to 2% YoY

China’s Iron & Steel Association (CISA) expects the domestic steel consumption to increase 2% on year to 890 million tonnes for 2020 as key consuming sectors may see slower growths or modest declines, according to CISA’s latest release on January 14.
The growth will be lower than the 6% year-on-year growth in steel consumption to 875 million tonnesfor 2019 as the property market had achieved better-than expected growth as well as the steady investment in the infrastructureconstruction, CISA explained. Table 1 Projected Steel Consumption from major sectors (unit: million t) Source: CISA Steel

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