Chinese crude steel in 2010 to break 600 million tonnes mark

23. Feb. 2010

According to the latest prediction of China Iron and Steel Association, China crude steel production of 2010 is expected to breach 600 million tonnes a growth of some 6.2% from the previous year.

The Association data shows that, China crude steel output climbed to a record high at 568 million tonnes in 2009 up by 13.5%YoY. The apparent consumption of domestic crude steel in 2009 was 565 million tonnes increase of 112 million tonnes or 24.8% from a year ago.

The institute predicted that the output of crude steel in 2010 is to break 600 million tonnes up by 6.2%YoY taking consideration of the macro economic situation as well as restrains in resources, energies and environment conservation, the intensifying global trade protectionism momentum, and uncertainty with the social inventory.

Data also shows that, in 2009 China imported over 23.3 million tonnes of crude steel up by 40%YoY and exported 26.2 million tonnes sliding about 60%. That means a net export of 2.87 million tonnes a sharp loss of 44.76 million tonnes or 94%YoY.
[Steel GURU]