On January 12, during the sixth meeting of the sixth General Assembly of the China Iron and Steel Association, the total output of China's crude steel production was unveiled, flat on the previous year, totaling around 1.02 billion tons.

Data for the first 11 months of 2023 revealed a 1.5% year-on-year gain, at 952 million tons, while the apparent crude steel demand reached around 874 million tons, revealing a 1.9% year-on-year decrease.

China’s steel consumption structure is undergoing transformation, as demand for green steel is increasing, also conventional industries like automobile making, shipbuilding, and home appliances manufacturing are requiring steel materials of higher quality. At the same time, the production structure of the industry itself is also moving forward to meet those demand changes in a positive way.