"The Belt and Road" Will Bring More Steel Demand for Neighboring Countries
- China Steel News
- Gloria Wang
- Issue Time
On October 12th, BHP Billiton's chief business officer, Bai Weicheng, issued a signed article saying that over the next 10 years, the "The Belt and Road" project is expected to generate as much as 150 million tons of steel demand.
Based on data analysis of the tracking project, electricity, railways, oil and gas pipelines and other transportation projects accounted for 70% of the total investment in "The Belt and Road". Thus, the "The Belt and Road" along the region for the investment needs of infrastructure is huge. These investment projects will spawn a large number of demand for building materials and equipment, which directly or indirectly pull steel demand.Of this 150 million tons of steel demand, 80% will be used for building construction and reinforced concrete, while the remaining 20% will be used for machinery manufacturing and other equipment production. If the average distribution to 10 years, equivalent to 15 million tons per year of steel demand increases, equivalent to "along the way" along the region average annual demand for steel 3% to 4%.