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2021-2023 capacity growth forecast of crude steel production

[2021-10-21]

According to publicly available investment project information, there are currently 45 million tons of steel production capacity under construction worldwide, and it is planned to start production in 2021-2023. It is currently in the planning stage, and the capacity that may be launched during this period is 68.7 million tons. If all the projects currently under construction or planned are finally realized, steelmaking capacity in Asia and the Middle East is likely to have considerable growth in the next few years. At present, Asia and the Middle East have 18.6 million tons and 16.4 million tons of crude steel capacity currently under construction and are expected to be put into production in 2021-2013. In addition, 46.9 million tons and 10.9 million tons of crude steel capacity projects are planned. There are also new capacity projects in North America, Africa, Europe and Latin America that will be put into operation in 2021-2023, with capacities of 4 million tons, 3.2 million tons, 2.2 million tons and 700,000 tons, respectively. In addition, North America, Africa, Europe and the Commonwealth of Independent States have several million tons of production capacity planned, and Oceania has an investment project, but the start of production time is still uncertain.

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