Apparent steel consumption in China has dropped by 6.2% year-on-year, totaling 688 million tons in the first nine months of 2024, according to the China Iron and Steel Association (CISA). The association anticipates that steel demand may plateau or decline slightly by 2025, amid rising trade tensions impacting exports. Oversupply has led to falling prices and reduced profitability for steelmakers, prompting CISA to urge mills to limit production. Despite recent government efforts to stimulate the economy, steel prices have fluctuated, and production has decreased compared to last year.