The situation of steel consumption industry is more optimistic

 

Globally, construction activity continues to recover from the COVID-19 lockdown in 2021, with steel demand up 3.4% year-on-year, despite a contraction in construction activity in China. In many countries and regions around the world, the impetus for this recovery comes from infrastructure investment. The World Steel Association believes that in the next few years, infrastructure investment and energy transition investment are likely to continue to drive the growth of steel demand in the construction industry. However, the construction industry is also facing some headwinds from high costs and interest rates. In addition, in the second half of 2021, bottlenecks in the automotive industry supply chain hindered the recovery of steel demand, and the recovery of the global automotive industry in 2021 was disappointing. Steel demand in the electric vehicle market has seen rapid growth during the COVID-19 pandemic, despite a slump in global auto production. In 2021, global electric vehicle sales will reach 6.6 million units, almost double the number in 2020. The share of electric vehicles in total vehicle sales will increase from 2.49% in 2019 to 8.57% in 2021.

Wanhao is a manufacturer who is specialized in designing various kinds of furnace and making refractory products for electric furnace, ladle, tundish, blast furnace, AOD furnace, IF furnace, etc.

Article Source:The situation of steel consumption industry is more optimistic

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