China's steel market faces a prolonged demand slowdown, not a sudden collapse. Production fell to nine hundred sixty-one million metric tons in twenty twenty-five, nearly ten percent below the twenty twenty peak. The property crisis wiped out eighty-three million metric tons of rebar demand, but manufacturing, shipbuilding, & clean energy sectors absorbed much of the loss. Experts forecast output will fall further to nine hundred million metric tons by twenty thirty as capacity cuts take hold & global trade barriers tighten.