China is promoting a new industrial revolution in the steel industry

At present, the world economy is still in a period of deep adjustment, the global mining industry continues to be in a downturn, and mineral product trade and mining investment have declined significantly. On September 8, at the 14th International Congress of China Coking Technology and Coke Market, it was stated that facing the pressure of the new economic normal and overcapacity, China's steel industry needs to jointly build a harmonious and sustainable steel industry chain. However, the oversupply situation of the entire steel industry chain will continue at present, and the status quo of declining demand, declining output, low prices and sliding benefits will not change fundamentally in the short term.

The steel industry has entered a period of in-depth reform and adjustment

A vice chairman of the China Iron and Steel Association introduced that in 2016, with the slowdown of economic growth and weakening demand, the oversupply of steel became increasingly obvious, and output showed a downward trend; the industry's benefit situation improved, and there were signs of balanced development in the steel industry chain; iron and steel enterprises are accelerating the implementation of structural adjustment, transformation and upgrading, which has laid a foundation for the healthy development of China's steel industry in the future.

He stated that as China's economy enters a period of in-depth adjustment, the steel and coal industries should adapt to new situations and new changes, achieve a new balance in the new environment and on the new platform, and continue to maintain a healthy and stable development state with appropriate speed, appropriate methods, higher efficiency and better quality. Facing the same external environment, no party on the steel industry chain can "keep itself out of trouble" for a long time, and industrial chain cooperation is an inevitable trend. Therefore, all stakeholders in the steel industry should put aside short-term interests, proceed from the perspective of industrial chain construction, and establish a long-term and stable cooperative relationship of real benefit sharing and risk sharing with upstream and downstream enterprises.

On September 6, at the second "New Knowledge, New Technology, New Concepts" Summit Forum of the iron and steel industry, the Party Secretary and Secretary-General of the China Iron and Steel Association pointed out that at present, China's iron and steel industry has entered a period of in-depth reform and adjustment, which is an important strategic adjustment for China's iron and steel industry to achieve the goal of "growing larger and becoming stronger". The transformation of China's iron and steel industry from scale-oriented efficiency to quality-oriented efficiency, accelerating the balance between supply and demand in the iron and steel industry, and promoting transformation and upgrading—all these issues require the support of new knowledge, new technology and new concepts with strategic height, and require long-term and extensive discussion and demonstration by experts, scholars and business elites from various fields.