Development Prospects Of Niobium Products Trading Industry in China

According to the latest edition of the short-term (2021-2022) steel demand forecast report released by the World Steel Association, global steel demand will grow by 5.8% to 1.874 billion tons in 2021 after declining by 0.2% in 2020. global steel demand will continue to grow by 2.7% to 1.925 billion tons in 2022. With the construction industry after the epidemic and the oil and gas market rebound to drive the demand for steel for construction and oil and gas pipeline steel, niobium products trade demand will gradually climb.

Due to the effective and strong response of the Chinese government, the domestic epidemic quickly recovered to a controllable range, coupled with a number of economic stimulus plan under the new 5G and the rapid advancement of the new urbanization construction, so that the domestic economy is rapidly recovering and leading the world, China's demand for iron and steel is expected to grow by 3.0% in 2021, which will stimulate the demand for niobium products in the domestic market to the maximum extent possible.

China's ferro-niobium import trade industry market size is stable, but compared with the developed countries 80-120 grams of ferro-niobium / ton of crude steel and the world average level of 80 grams of ferro-niobium / ton of crude steel niobium consumption intensity, China's niobium consumption intensity is only 40 grams of ferro-niobium / ton of crude steel or so, is still at a lower level, ferro-niobium imports and trade industry market size is still a huge upside. With the downstream steel industry and other manufacturing end-users of high-quality development, structural adjustment, product upgrading process, the domestic demand for ferro-niobium will continue to increase, it is expected that China's ferro-niobium imports and trade market size will be further expanded.