The LangeSteel Network 2022 Inner Mongolia Iron and Steel Summit Forum, hosted by the Baogang Group, was held in Baotou city – located in North China's Inner Mongolia autonomous region – on July 9. 

LangeSteel Network is reportedly one of the most authoritative and influential websites in the steel industry in China and every year it holds the summit in Baotou. 

Liu Taoran, president of the Lange Group, the owner and operator of the LangeSteel Network, told the forum that China's entire steel industry in the first half of the year was hit by falling prices after a sustained sharp rise and in the future the steel market would undergo turbulent upward price adjustments.

From the perspective of demand, although various provinces and cities had issued policies to stabilize the economy, it would take time for the effect to flow from policy introduction to implementation, Liu said. At the same time, current weak demand in the off-season was also impacting the confidence of the domestic steel market. 

At the forum, experts and academics – including Zhu He, deputy director of the research department of a China finance forum and Guo Xiubin, a lecturer in financial engineering at Nankai University – gave keynote speeches on such subjects as the "economic situation and policy prospects in the second half of the year". 

The heads of iron and steel enterprises who participated in the forum said the analyses offered by experts and leading enterprises gave everyone a more precise grasp of the supply and demand relationship in the future market – and a clearer understanding of the high-quality development of the industry led by technological innovation.