From the Editor's Desk

Steel Demand in China, 2010 to 2023 - Visual Capitalist (No paywall)

The demand for steel from the construction industry is estimated to have dropped from 42% of total demand to 24%, as construction firms purchased 37 million metric tons less steel in 2023 compared to 2010. This slump can, in part, be attributed to the Chinese real estate crisis and developer bankruptcies. Both of these factors led to a slowdown in residential building starts. 

The share of steel used by the transport sector is estimated to have falled from 12% in 2010 to 9% in 2023. However, there was an uptick in the amount of steel used by the industry. It rose from around 73 million metric tons in 2010 to 82 million metric tons 13 years later. And, with more than half of all new electric vehicles (EVs) sold worldwide made in China, the sector could receive support if EVs continue to gain in popularity.

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