08/05/2024
China's equipment renewals to boost new demand for higher-end steel products
BEIJING -- The country's action plan to promote large-scale equipment renewals is estimated to generate about 8 million tonnes in new market demand for medium and high-end steel products by the manufacturing industry, according to an industrial association.
The China Iron and Steel Association said that the action plan to boost equipment renewals and trade-ins of consumer goods, which was unveiled in March by the State Council, the cabinet, will lead to new demand for steel products by particularly the manufacturing and energy industries.