BEIJING — China's demand for steel is expected to fall slightly to 874 million metric tons in 2020, said a forecast report.
The steel demand of the construction industry is forecast to dip by 0.6 percent year-on-year to 475 million tons, according to the report from China Metallurgical Industry Planning and Research Institute.
The machinery industry is likely to see its demand remain basically stable next year at 142 million tons.
The automobile sector is expected to see the biggest demand decline, down by 3.6 percent year-on-year. Demand from the sector will be likely to reach 48.2 million tons.
Bucking the trend, the energy industry is expected to see its demand rise by 1.5 percent to 34.5 million tons, the report said.