Looking back at the history of the steel industry in developed countries such as Japan and the United States, it is found that the development of special steel generally lags behind that of ordinary steel in terms of time. After the peak of crude steel production, the special steel industry can maintain its growth momentum for at least 10 years. At the same time, the transformation and upgrading of industrial structure from capital intensive raw materials to high-end manufacturing with high processing degree has become the driving force for the development of the Japanese and American special steel industries. In the process of development, it presents characteristics such as cross enterprise group investment, product specialization and branding, and large-scale mergers and acquisitions. In the secondary market, representative special steel companies have significantly outperformed the corresponding steel industry index in the long term.

Benefiting from policy support, China's special steel industry is expected to usher in a period of rapid development in the future

China's industrialization process has entered a mature stage. Under the strategic framework of the country's transformation of economic growth structure, with the transformation and upgrading of industrial structure, crude steel production is about to reach its peak. The demand for high-end manufacturing and durable consumer goods will drive the special steel industry to enter a period of rapid development.

Automobile consumption stimulates the development of the industry, and special steel will support the transformation and upgrading of China's high-end manufacturing industry. In the downstream demand for special steel, automobile consumption accounts for 40%, and the consumption characteristics of special steel are outstanding. With the continuous increase of per capita disposable income, there will still be a significant increase in the production and sales of automobiles in the future