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China steel consumption growth to be taper in next five years

First Financial Daily citing Mr Li Shijun chief analyst of China Iron and Steel Association as saying that China steel output growth is expected to average 6%YoY over the next five years. He also predicted that the world crude steel capacity would arrive at 2.03 billion tonnes per year by the close of 2011 which may reach 2.19 billion tonnes in 2013 while China crude steel output grew by 9.3% in 2010, lower than that of world growth.

Otherwise, China crude steel apparent consumption only increased by 5% with the Fixed Asset Investment which mainly focused on large scaled infrastructure construction were on the wane. According to CISA data China annual steel output in the next five years will probably hit as much as 850 million tonnes compared with a government estimate of 700 million tonnes this year and output of 627 million tonnes in 2010.

Source: First Financial Daily

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