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zh Global steel industry development and China's steel industry
2024-12-27 09:04:09 hits：0
In the rapidly changing global industrial environment, the steel industries of various countries are undergoing unprecedented changes and challenges. Today, we'll bring you the latest developments in the steel industries of Egypt, Argentina, Ukraine, Iran, and India, allowing you to take a peek at the vicissitudes of the global steel market.
Egypt:
New Peak, a Chinese steel manufacturer, has joined hands with the Suez Canal Economic Zone to build a comprehensive industrial park. It plans to invest $1.65 billion to construct a comprehensive industrial park covering an area of 3.75 million square meters. The project includes 9 factories and will build production lines for hot-rolled steel coils, automotive brake discs, home appliance parts, etc. in phases, aiming to promote the local industrial development in Egypt. The Egyptian government has expressed its full support and promised to accelerate the approval process and simplify administrative procedures to ensure the smooth implementation of the project.
Argentina:
The latest data from the Argentine Bureau of Statistics shows that the economy grew by 3.9% in the third quarter compared to the previous quarter. This is the first quarterly economic growth since President Javier Milei took office. The inflation rate has dropped significantly, and private consumption and investment have witnessed remarkable growth on a month-on-month basis. Exports have become the most positive economic indicator in 2024, and the energy trade surplus has hit a 15-year high. The government has achieved initial results by reducing cabinet departments and repealing regulations to promote economic deregulation and reduce the size of the government.
Ukraine:
Data from the State Customs Service of Ukraine shows that from January to November 2024, Ukraine's long product imports increased by 12.9% year-on-year. Among them, the imports of angle steel, section steel, and special profiles have increased significantly, with Turkey becoming the main supplier. However, the tight supply of raw materials has become a bottleneck restricting the development of Ukraine's steel industry. The production of iron ore pellets has declined while exports have increased, causing sponge iron producers to face a shortage of raw materials.
Iran:
Since early summer, continuous energy restrictions have had a significant impact on Iran's steel production, with a reduction of about one million tons and losses exceeding $450 million. However, in the face of difficulties, sponge iron production has bucked the trend and become a bright spot in the steel market. Nevertheless, the decline in iron ore pellet production and the tight supply of raw materials have raised concerns about the sustainability of production in this field.
India:
During the 2024/2025 fiscal year (April to November), India's hot-rolled steel imports increased by 26.6% year-on-year, reaching 6.5 million tons, hitting an eight-year high. China, Japan, and South Korea have become the main sources of India's steel imports. With the increase in imports, domestic steel producers in India are facing competitive pressure from the international market. To support the domestic industry, the Indian government is considering imposing a temporary safeguard duty on steel imports. Meanwhile, major steel companies are also taking measures to supply steel to small and medium-sized enterprises at lower prices to relieve their operating pressure.
Conclusion:
Witnessing the construction of the comprehensive industrial park in Egypt and the accelerated economic growth in Argentina, along with the challenges of raw material supply in Ukraine, the energy restriction dilemma in Iran, and the record high of hot-rolled steel imports in India, it is evident that the global steel industry is currently navigating through a highly complex and volatile market landscape. In light of this, governments and enterprises across the globe must constantly adapt and refine their strategies to keep pace with the ever-changing market dynamics, thereby fostering the sustainable and robust development of the steel sector.
It is also worth highlighting that China, as the world's largest steel producer and consumer, has its unique advantages. With an annual steel output ranking first globally for 28 consecutive years since 1996, reaching 10.19 billion tons in 2023, Chinese steel enterprises have made remarkable progress in technological innovation, green and low-carbon transformation, and industrial structure optimization. They offer a wide range of high-quality steel products, possess strong technical innovation capabilities, enjoy certain price advantages, provide reliable after-sales service, and are open to diverse cooperation models.
