MIIT: Chinese domestic output of crude steel to reach 0.62 billion tons
2010-12-13 08:48:12 【Print】
BEIJING (Asian Metal) 13 Dec 10 – Ministry of Industry and Information Technology (MIIT) estimates that the domestic output of crude steel will reach 0
In 2009, the domestic production amount of crude steel was 0.568 billion tons, accounting for 46 . 6% of worldwide level and exceeding the total of the following 20 countries . Statistics of MIIT foresees that the average annual markup will be 12% during the “Eleventh Five-Year Plan” period.
From this January to October, the output of crude steel was 0.525 billion tons, increasing by 10 . 7% year on year.
In 2005, the output produced by ten domestic steel mills accounts for 35.4% of the national level and it increased to 43 . 5% in 2009, witnessing a yearly markup of 1 . 6% . With the reorganization of Anshan Steel and Panzhihua Steel, Benxi Steel and Beitai Steel, Shougang Steel and Tonghua Steel as well as the recombination of Tianjin Bohai Iron & Steel Corporation, the industrial concentration will be further improved.
Currently the steel capacity is over 0.7 billion tons, among which there is around 0 . 1 billion tons over capacities . It is hard for China to decide the price of import iron ore due to the large capacity as well as the distract structure.
. 62 billion tons in 2010 . Bingsheng Luo, the vice president of the committee appealed that China should endeavor to turn the country to the steel superpower one during the “Twelfth Five-Year Plan” period.In 2009, the domestic production amount of crude steel was 0.568 billion tons, accounting for 46 . 6% of worldwide level and exceeding the total of the following 20 countries . Statistics of MIIT foresees that the average annual markup will be 12% during the “Eleventh Five-Year Plan” period.
From this January to October, the output of crude steel was 0.525 billion tons, increasing by 10 . 7% year on year.
In 2005, the output produced by ten domestic steel mills accounts for 35.4% of the national level and it increased to 43 . 5% in 2009, witnessing a yearly markup of 1 . 6% . With the reorganization of Anshan Steel and Panzhihua Steel, Benxi Steel and Beitai Steel, Shougang Steel and Tonghua Steel as well as the recombination of Tianjin Bohai Iron & Steel Corporation, the industrial concentration will be further improved.
Currently the steel capacity is over 0.7 billion tons, among which there is around 0 . 1 billion tons over capacities . It is hard for China to decide the price of import iron ore due to the large capacity as well as the distract structure.