29 May '11, 10am

China's steel demand to reach 750 mn tonnes in 2015

Beijing, May 29 (IANS) China's annual demand for crude steel will rise to between 670 million and 750 million tonnes in 2015, said China Iron and Steel Association (CISA). The figures are 11.8 percent and 25.1 percent higher compared with the 2010 level, Xinhua quoted Luo Bingsheng, a CISA official, as saying Sunday. The estimate was based on the assumption that China's economy will register an annual growth rate between 8 percent and 9 percent during the 12th Five-year Plan period (2011-2015), Luo said. Luo also said as steel mills are highly energy-intensive, they are expected to bear the brunt of worsening power shortages this summer. 'As the summer peak draws near, the power shortage will worsen with more rationing measures, which is expected to affect the steel-making industry from June to September,' he said. According to official statistics, the country's crude stee...

Full article: http://sg.news.yahoo.com/chinas-steel-demand-reach-750-mn...

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