Steel industry likely to be stable as recovery steady

Decline in demand for metal used in real estate sector may narrow this year

China's steel industry is forecast to maintain stability this year as the world's second-largest economy is on track for a steady recovery, said industry experts.

"China's steel demand will likely remain steady or report slight growth this year given the country's around 5 percent annual GDP growth target, the recovery in downstream demand, and the move to accelerate fixed-asset investment and promote large-scale equipment renewal and trade-in of consumer goods," said Zhang Longqiang, president of the China Metallurgical Information and Standardization Institute.

Zhang said the decline in demand for steel used in the real estate sector may narrow this year, as the country has doubled efforts to promote the construction of government-subsidized housing, build dual-use public infrastructure that can accommodate emergency needs and redevelop urban villages.