The "Golden Conference" on June 12 attracted global attention. Trump promised to provide North Korea with security assurances. Kim Jong-un reiterated his commitment to the complete denuclearization of the Korean Peninsula. It can be predicted that in the future, North Korea is expected to gradually integrate into the global economy. For the international steel trade, North Korea is likely to become a good "land reclamation" market.

According to statistics, in 2013, the total amount of iron ore mined in North Korea was 5.3 million tons, and the total demand was 9 million tons; the total amount of North Korean coal mining was 41 million tons, and the coal demand for ironmaking was 2.4 million tons; limestone The total mining volume is 12 million tons and the demand for limestone for steel smelting is 2.4 million tons. Judging from the scale of production of the North Korean steel industry, North Korea needs at least 8.4 million tons of iron ore per year (calculated on the basis of 1.54 tons of iron ore consumed per ton of pig iron produced). Due to international sanctions, insufficient supply of iron ore has severely restricted the development of the North Korean steel industry.

For various reasons, the current North Korean steel industry cannot support North Korea’s domestic steel demand, and this situation is difficult to change in the short term.

Trump said that it will take a long time for the Korean Peninsula to achieve complete denuclearization. At present, it will not lift the sanctions against the DPRK; At the same time, it remains to be seen how Korea will develop in the future. Therefore, Chinese steel mills are still concerned about the many changes in the possibility of exporting steel to North Korea.