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In 2020, under the influence of special factors such as Covid-19, China's crude steel output exceeded 1 billion tons for the first time, and its share of world steel output rose to 57%. While this abnormally rapid growth has allowed the profits of steel companies to rise, it has also triggered some calm thinking in the steel industry.

On March 20, the "2021 (Twelfth) China Iron and Steel Development Forum" was held in Beijing. Many industry experts said here that we need to be soberly aware that the rapid growth of China's steel industry last year was "abnormal", and the development of the steel industry still faces three major challenges such as volume reduction, low carbon, and safety.

Steel is one of the metal materials with the widest application range and the highest recycling rate in the world. The steel industry often represents the comprehensive strength of a country or economy. Yu Yong, chairman of the World Iron and Steel Association and chairman of HBIS Group Co., Ltd., said on the same day that since 1996 when steel production exceeded 100 million tons, China has maintained the world's first steel output for 25 consecutive years. Especially in the past 10 years, China's steel output has always maintained more than half of the world's steel output.

Official data show that in 2020, China's crude steel and steel production will reach 1.065 billion tons and 1.325 billion tons, an increase of 7.0% and 10.0% year-on-year respectively. According to the forecast of the China Iron and Steel Association, domestic crude steel consumption reached a record high, a year-on-year increase of 9%. The performance of iron and steel enterprises has improved, with major iron and steel enterprises achieving a profit of 207.4 billion yuan, a year-on-year increase of 6.59%.

Hu Wenrui, director of the Department of Engineering Management of the Chinese Academy of Engineering and academician of the Chinese Academy of Engineering, pointed out that the steel industry is the industry with the largest carbon emissions among the 31 sectors of the manufacturing industry, accounting for about 15% of the total emissions. As the country with the highest steel production in the world, China's pressure is self-evident.