According to the China Metallurgical Industry Panning Research Institute said in 2017, China's gross domestic product (GDP) will grow by about 6.5%.

According to China's industrial structure and changing tendency of steel and raw materials industries judged in 2017, China's GDP of steel consumption will continue to decline.

Meanwhile, the downstream of steel and raw materials consumption will consider to use such as corrosion resistance of high strength, high toughness, steel demand will increase steel intensity per unit of product.

It forecasts that Chinese actual steel consumption is about 660 million tons in 2017, generally remained stable. Meanwhile, the government work report also indicates that 2017 China plans to reduce steel production capacity of 50 million tons.