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It is expected that the total demand of steel market will continue to grow steadily in 2021

At present, the steel demand resilience is still on, and the inventory has been significantly reduced. But last week, the apparent demand has dropped from the high level of half a year, and the speed of inventory elimination has slowed down. Does it mean that the turning point of demand is coming? Will steel futures rise completely?

Since November, driven by strong demand, China's steel prices have repeatedly reached new highs, and crude steel output has also been running at a high level. Analysts said that China's steel market volume will continue to expand in 2020, and the apparent consumption will jump to a new level of 1 billion tons of crude steel, achieving a historic breakthrough. It is estimated that the total demand of steel market will continue to grow steadily in 2021, which is likely to reach 1.1 billion tons, reaching a new high.