Chan Ye Xin Xi Wang·2025-08-13 01:17Core Viewpoint - The non-alloy steel industry in China plays a crucial role in national economic construction, showing steady growth and quality improvement through optimized smelting processes and innovative heat treatment technologies [1][15]. Industry Overview - Non-alloy steel, also known as carbon steel, is primarily composed of iron and carbon, with a carbon mass fraction not exceeding 0.8% [4]. - The production of non-alloy steel in China increased from 33.11 million tons in 2015 to 43.71 million tons in 2024, with a compound annual growth rate (CAGR) of 3.14% [1][15]. - The industry is expected to accelerate production process innovation and product structure optimization under the "dual carbon" goals and green manufacturing concepts [1][15]. Policy Environment - The non-alloy steel sector is supported by national policies aimed at promoting high-performance special steel and optimizing the steel product structure [6][7]. - Recent policies include the "2024-2025 Energy Saving and Carbon Reduction Action Plan" and guidelines for upgrading equipment in key industrial sectors [6][7]. Industry Chain - The upstream of the non-alloy steel industry includes raw material supply such as iron ore and coke, which directly impacts the performance of final products [9]. - The midstream focuses on the production processes, including ironmaking, steelmaking, continuous casting, and rolling, which are critical for value creation [9]. - The downstream applications are diverse, serving sectors like construction, transportation, machinery manufacturing, and petrochemicals [9]. Market Dynamics - The market for iron ore in China is projected to grow, with production increasing from 763 million tons in 2018 to 1.042 billion tons in 2024, reflecting a CAGR of 5.33% [11]. - The construction industry in China is also expanding, with total output value expected to rise from 21.39 trillion yuan in 2017 to 32.65 trillion yuan in 2024, a CAGR of 6.22% [13]. Key Companies - Major companies in the non-alloy steel industry include Fushun Special Steel, Jiangsu Shagang Group, and Tianjin Steel Group, among others [2][3][19]. - Fushun Special Steel reported a revenue of 8.373 billion yuan in 2024, focusing on high-temperature alloys and high-strength steel [21]. - Fangda Special Steel's revenue in 2024 was 21.177 billion yuan, with a focus on rebar and automotive components [23]. Development Trends - The industry is shifting towards high-performance and high-value-added products to meet the demands of high-end manufacturing and emerging fields [25]. - Green and low-carbon transformations are being prioritized, with an increase in the use of short-process electric furnaces and recycling technologies [26]. - Digitalization and intelligent technologies are being integrated into the production process to enhance efficiency and product quality [27].