Posted on 24 Mar 2022
In 2021, the total amount of shipbuilding steel demand in China amounted to 9.8 million mt, up 3.2 percent year on year, according to the China Association of the National Shipbuilding Industry (CANSI).
In the coming five years, demand for shipbuilding steel in China will maintain a steady growth, CANSI expects, while in 2022 the total amount of shipbuilding steel demand will exceed 11.0 million mt, up 12.0 percent year on year, while prices are unlikely to indicate declines.The sharp rise in shipbuilding steel in 2021 occurred amid significant increases in iron ore prices.
2022-23 will be a peak period for shipbuilding steel, with demand for medium plates expected to be at high levels. Even though iron ore prices may indicate a decreasing trend, shipbuilding steel prices are unlikely to soften, due to good demand.
Source:Steel Orbis
