Analysis of the Driving Forces of Influence Factors on China’s Steel Output

Abstract

The paper aims at analyzing the steel output and consumption in China from 2016 to 2020 and to demonstrating the main driving forces that influence our country’s steel output. The value of H was used as a key link in steel forecast: the steel in use was calculated by the value of GDP and H, then steel output was obtained, at last we got steel consumption by the quantitative relationship of steel consumption and output. Results showed that the value of GDP, H and Δτ are all influence factors on steel output. Steel output grew when the value of GDP was increased and their growth rates were positive correlated, steel output declined when H and Δτ were increased, but the main influence factor was GDP. The way to minimize steel output is to decrease GDP increase rate, grow the value of H and raise average service life of steel at the same time.