Status Quo, Competition Pattern And Future Development Trend of Steel Industry in 2024

The iron and steel industry is an important basic industry of the national economy, covering many links such as black metal mineral mining, smelting, processing and metal product production. The upstream of its industrial chain is dominated by raw materials such as iron ore and fuel, which account for 70% or 80% of the cost of the steel industry, of which iron ore is highly dependent on foreign countries. The middle reaches convert raw materials into various steel products through processes such as ironmaking, steelmaking and steel rolling, including sheets, lengths, profiles and tubes. Downstream application fields are wide, including infrastructure construction, housing construction, machinery manufacturing, automobile manufacturing, home appliance production and shipbuilding and other industries. The development of the steel industry is affected by multiple factors such as the global economic situation, international trade environment, policy regulation and downstream demand changes, showing a certain volatility and periodicity. In recent years, the steel industry has made positive progress in promoting the transformation and upgrading of "high-end, intelligent and green", and is committed to enhancing industrial competitiveness and sustainable development ability.