CHINA'S STEEL IS IN A PERIOD OF IMPROVEMENT TOWARDS HIGH-QUALITY DEVELOPMENT

"For the steel industry, 2023 is a very challenging year, and the industry operation shows a trend of 'weakening demand, falling prices, high costs, and declining profits'." In 2023, China's steel focus on "coping with the downward cycle", "breaking through" and other challenges, but for the situation facing China's steel in 2024, Yao Lin is optimistic: "In 2024, the steel industry faces good development opportunities, confidence from China's economic recovery will be further continued, and the steel industry is undoubtedly a beneficiary industry."

At the Central Economic Work Conference held in December last year, it was pointed out that in economic work this year, we should seek progress while maintaining stability, promote stability through progress, first create growth and then break down, and make positive efforts to change the growth model, adjust the structure, improve quality and increase performance.

"Although the steel industry is still facing relatively large pressure in operation, if it can take the initiative to seize the opportunity, actively transform, and solve some problems restricting the development of the industry, the development of 2024 will be more healthy." In Yao Lin's view, "standing" and "breaking" is the development direction of China's steel. Yao Lin stressed that it is necessary to be based on the perspective of leading demand and upgrading consumption, so that steel can better serve the market and serve users. Baosteel, Shougang and SOBOOM and other enterprises after years of technical accumulation, in this respect of the ability is based, the next step is how to through the close connection of upstream and downstream, to further understand the market demand, focus on the high-quality transformation of innovation results, expand the application of steel materials space, to achieve market diversification.

The steel industry can establish a stable strategic cooperative relationship with downstream users, so there will be more confidence and stronger support for technological innovation investment to meet user needs. If the steel industry can reach strategic cooperation with upstream raw material suppliers, then no matter how the market changes, it can still maintain the stability of supply and demand.