Chinese mills expected to produce 520M tonnes of crude steel in 2010

Dec 05, 2006 | 08:45 AM | Mark Beveridge

China is expected to produce 520 million tonnes of crude steel in 2010, roughly 100 million tonnes more than the likely total for 2006, according to figures from the China Iron and Steel Planning Institute.

The figures, which come from a body with close connections to the Chinese government, will worry producers in Europe and the United States as China's domestic consumption of steel is showing signs of slowing and its exports grow.

Having risen by more than 20 percent each year between 2001 and 2003, the consumption increase slowed to 10.5 percent during the first nine months of 2006. Overall steel product consumption is expected to total 480 million tonnes in 2010, about 40 million tonnes less than China's anticipated crude steel production. Domestic oversupply of hot-rolled coil is predicted to reach about 12 million tonnes in 2010, according to the statistics presented at the 4th Steel Success....

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