China’s Steel Industry Plateaus as Demand Growth Shifts to Emerging Economies
China’s crude steel output has stabilised near peak levels while India expands rapidly, reflecting a gradual rebalancing of global steel demand.
China’s crude steel output has stabilised near peak levels while India expands rapidly, reflecting a gradual rebalancing of global steel demand.
Imports have stabilised around USD 2.6 trillion, signalling softer domestic demand and a continued tilt toward commodity-intensive sourcing.
Europe’s scale and diversified demand make it a stabilising force in China’s export landscape, with steady export growth over the past decade.
China dominates steel production, accounting for 53% of global output and nearly 1 in 5 dollars of steel exports in 2024.
China alone accounts for a fifth of global crude oil imports while supply remains concentrated in a handful of exporters.
BRICS exports have advanced to current near parity with G7 exports, pointing to a momentous rebalancing of global trade with far-reaching implications.
BRICS has emerged as a cornerstone of global economic growth and is setting the stage for a new economic order.