September 08, 2008

Chinese crude steel output estimates for 2008

Mr Luo Bingsheng deputy chairman of China Iron & Steel Association last week said that China's crude steel output is estimated to reach 520 million tonnes to 540 million tonnes in 2008, an increase of 30 million tonnes to 50 million tonnes or 6.3% to YoY 10.4% YoY.

Mr Luo also predicted that the domestic apparent consumption of crude steel is likely to grow about 11% YoY slightly lower than the 11.87% in 2007.

But he noted there are still many uncertainties to affect China's aggregate iron and steel production volume this year.