During October 27-29, 2023, the SteelHome China Steel Industry Summit for 2024 Market was held in Nanjing. This event was organized by SteelHome and proudly co-sponsored by Handan Zhengda Pipe Group and Ouyeel.

During this conference, seven specialized forums were conducted, including 'Innovation in Steel Supply Chain Models,' 'SteelHome Autumn Report 2023,' 'Industrial Financialization and Risk Management,' 'SteelHome Spot and Futures Trading Practical Experience Sharing,' 'The 26th Joint Meeting of Market Information for Steel Enterprises and the 9th Steel Ecosystem Market Information Conference,' 'Research on the Current State and Structural Issues in the Raw Materials Market,' and 'Steel Products: Low Carbon Environmental Protection, Structural Adjustment, and Innovation in Models.

Over 900 participants from more than 700 organizations, including over 120 domestic and international steel manufacturers, as well as more than 80 raw material companies, joined the event. Additionally, numerous industry stakeholders, institutions, and media outlets were represented.

At the keynote session on the morning of October 28th, Luo Tiejun, Member of the Party Committee and Vice Chairman of the China Iron and Steel Association, delivered a keynote speech on Steady Growth in the Steel Industry.

Luo Tiejun, Member of the Party Committee and Vice Chairman of the China Iron and Steel Association, Delivers a Speech

Key Points of the Speech

Since the beginning of this year, China's steel industry has been characterized by 'high production, high costs, low prices, and low profitability' - a state of 'dual highs and dual lows.'

Steel enterprises need to fully realize that relying solely on improving equipment and reducing costs to gain a competitive advantage is becoming increasingly challenging. The industry's self-regulation and effective production control are new and more crucial choices for achieving high-quality development in the new development stage.

China, with such a large steel production, cannot rely on exports to the extent seen in countries like Japan and South Korea, as it is not allowed by policies, and importing countries do not permit it.

Leading companies must set an example, not only by meeting national regulatory requirements and fulfilling their respective tasks but also by taking the lead in guiding the industry. They should proactively focus on the industry's overall development, rather than just outperforming the market themselves. Their aim should be to maintain the healthy operation of regional markets, adhere to the original purpose and mission of joint reorganization, lead the industry in overcoming challenges collectively, and ultimately, believe that they will emerge as the biggest winners.

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