The China Iron and Steel Industry Association (CISA) expects steel production in China to exceed 1 billion tons this year, an increase of 3-5% over the same period last year.
Annual steel exports in 2020 are estimated to decline by about 15% year on year, while imports are forecast to grow 60% this year.
In addition, key steel makers in China were expected to generate profits of about RMB 180 billion in 2020, which may decline or remain flat year over year.