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China's steel demand will remain stable and increase slightly

In 2021, due to the Chinese government's strict regulation and control measures on real estate development, the growth rate of China's steel demand slowed down significantly.

In 2022, due to the efforts of the Chinese government to promote investment in infrastructure construction and continue to stabilize the real estate market, steel demand will remain stable.

In addition, the stimulus measures launched by the Chinese government in 2022 are likely to promote a slight increase in steel demand in 2023. If the deteriorating external environment leads to more challenges to China's economic development, the Chinese government is expected to launch stronger stimulus measures, which will bring upward economic potential.