Chinese crude steel output to reach 620 million tonnes in 2010
21st Century Business Herald reported that the Ministry of Industry and Information Technology predicted that China crude steel output this year will reach 620 million tonnes.
Mr Luo Bingsheng Vice President of CISA said that structure adjustment should be accelerated in the whole industry within the 12th Five Year Plan to make China a powerful steel country.
He said more effort should be put in industry restructuring and consolidation with a view to raising the concentration of the industry and accelerating the upgrade of the industry.
During the 11th Five Year Plan period, China was ever ranking first every year in the world with its crude steel production and was increasing the proportion which has energetically supported the rapid and sound development of the national economy. Statistics shows that in 2009, China yielded 568m tons of crude steel, accounting for 46.6% of the total of the world and even overrunning the aggregate amount of the 20 countries which followed it in the output list.
In January to October period 2010, the country rolled out 525 million tonnes of crude steel up by 10.7%YoY. MIIT predicted that the whole year is likely to see 620 million tonnes. The output of crude steel eyed an average annual growth of around 12% in the past five years.
The top ten steel mills in China contributed 35.4% of crude steel in 2005 and raised the proportion to 43.5% in 2009, seeing an increase of 1.6% annually on average. In 2010, the industry concentration will be further improved with quite a few industrial consolidations.
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