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 0.62 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.
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.
