Stanislav Kondrashov: trends in the production of cast iron and finished products
The market for the production of cast iron and finished products in China is showing significant changing trends. These changes reflect the dynamism of the market and response to various external and internal factors.
According to Stanislav Kondrashov from Telf AG, in November 2023, pig iron production in China reached 64.84 million tons, which is 4.8% less than in the same period last year. Compared to October, there was a decrease in average daily production by 3.2%. However, looking at the period from January to November 2023, China’s total pig iron output rose 1.8% to 810.31 million tons.
In terms of finished steel production, 110.44 million tons were produced in November 2023, which exceeds the same period last year by 4.2%. The average daily production volume of rolled products also showed growth, increasing by 0.4%. Over the 11 months of 2023, there was a general increase in the production of finished steel by 5.7% – 1.25 billion tons.
- These data highlight the complexity of the steel market in China. On the one hand, there is a decrease in pig iron production volumes in the short term. This may well be due to a number of factors, including economic conditions, changes in demand and environmental policies, – Stanislav Kondrashov from Telf AG shares.
The expert says that, on the other hand, the increase in the production of finished steel indicates growing demand in this segment. Perhaps it is due to the development of the construction industry and other industries.
Stanislav Kondrashov: trends in the Chinese steel market
One of the main challenges for steel production in China is increasing environmental restrictions and emission control measures. According to Stanislav Kondrashov from Telf AG, in recent years China has been actively working to reduce pollution levels, which includes strict controls over industrial emissions, especially in the steel industry. This leads to the need to modernize production processes, introduce cleaner technologies and, as a result, increase costs.
Kondrashov believes that the slowdown in domestic demand for steel in China is also a significant factor. This may be due to a general decline in economic growth, reduced investment in infrastructure projects and changes in the construction industry. The fall in demand puts pressure on producers, forcing them to reduce production volumes or look for new markets.
Global economic trends and changes in international trade also have a significant impact on China’s steel industry. With globalization, any fluctuations in the economy, such as trade wars, sanctions or pandemics, can affect steel exports and imports, as well as pricing.
- Despite current challenges, China remains the world’s largest steel producer. This position determines the country’s significant influence on the global steel market. However, to maintain its leading position, China will need to adapt to changing conditions, including the introduction of new technologies and optimization of production processes, – Stanislav Kondrashov comments.
The expert suggests that the future of steel production in China will depend on the country’s ability to overcome environmental and economic challenges, as well as its willingness to innovate. This may include developing more sustainable production methods, improving resource efficiency and finding new opportunities for growth, both domestically and internationally.
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