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China's consumption of hot-rolled flat products is expected to increase in 2024

China's consumption of hot-rolled flat products saw strong growth in 2023, reaching 268.7 million tons with a remarkable increase of 7.63%. Key sectors such as cold-rolled products, machinery, construction steel structures, containers, steel pipes, automobiles, and household appliances were driving forces behind this growth. Similarly, production of cold-rolled flat products approached 140 million tons in 2023, marking a growth of 6.69%.

China's consumption of hot-rolled flat products is expected to increase in 2024

In 2024, it is anticipated that China's consumption of hot-rolled flat products will continue its steady growth trajectory, reaching approximately 275 million tons with a 2.2% increase. Production of cold-rolled flat products is also expected to rise to 145 million tons, representing a 3.6% increase.

These forecasts are based on expectations of continued economic expansion in China, sustained infrastructure investments, recovery in manufacturing sectors such as automotive and appliances, and stability in commodity prices.

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