Over the past five years, revenue for the Iron and Steel Smelting industry has fluctuated greatly, growing as much as 10.6% in 2011 and declining as much as 13.8% in 2014. Over the five years to 2015, revenue is expected to reach $170.0 billion, representing an annualized decline of 3.6%. After China's financial crisis of 2008, the industry became depressed, despite government investments to stimulate the industry. Total domestic demand has declined since 2012, but total output has increased gradually, thereby worsening supply surplus problems. Furthermore, the prices of steel productions declined continuously, causing industry revenue to decline, especially in 2014.
The Iron and Steel Smelting industry in China includes firms that manufacture hot metal, pig iron, cast iron, and cast iron pipes. First, iron is extracted from iron ore in blast furnaces. Then, pig iron and scrap iron are refined, either in basic oxygen or electric arc furnaces, into crude steel. Besides iron ore, other materials like coke, refractory, and water are required in iron and steel smelting.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.