China's steel industry 'growing significantly'...exports also increasing - Chinese report

According to the China Iron and Steel Industry Association, the economic performance of China's steel industry in the first five months of this year was solid, with the industry showing a notable trend of structural transformation and upgrading.
According to the latest statistical data, the national steel production volume in the first five months of the year increased 5.2% year-on-year to 606 million tons.
Growth in industrial steel products was remarkable, with production of cold-rolled steel sheets in particular in the automobile and home appliance manufacturing sectors increasing 6.9% to 20,057,000 tons.
In addition, the large increase in the volume of completed machinery and equipment, metal containers, and ships is driving demand for steel products for related industries.
In terms of exports, China's net exports of crude steel exceeded 50 million tons in the first five months of the year, up nearly 9 million tons over the same period last year.
Experts say that the pace of new industrialization has accelerated this year, and the demand structure of Chinese steel has been adjusted.
He pointed out that AI technology is also empowering the steel industry. Currently, Chinese companies own three of the six "lighthouse factories" in the global steel industry.
29 companies have been identified as national-level smart manufacturing model factories, leading the industry towards a green and smart future.