China’s steel demand to reach 750 mn tonnes in 2015
May 29th, 2011 - 5:00 pm ICT by IANSBeijing, 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 steel output rose 9.6 percent year-on-year to 626.96 million tonnes in 2010.
- China to invest $375 bn in energy-saving projects - Aug 22, 2012
- China is world's biggest magnesium producer - May 26, 2012
- Ukraine boosts steel output in 2011 - Jan 24, 2012
- China's foreign trade to top $4.8 trillion in 2015 - Jan 04, 2012
- China aspires to reduce energy consumption per unit of GDP by 2015 - Mar 05, 2011
- China to set up rare earths trade body - Dec 30, 2010
- Japanese steelmaker to build plant in central Mexico - Aug 08, 2012
- China's crude steel output went up in 2011 - Jan 23, 2012
- China's steel output up in first three quarters - Oct 22, 2011
- China to create more jobs for people in cities - Dec 18, 2011
- CEA to help state power utilities become energy efficient - Jul 26, 2012
- China publishes first industrial restructuring plan - Jan 18, 2012
- China to promote reducing paper usage - Jan 26, 2012
- China to see waning steel demand - Mar 02, 2012
- China to double workers' wages in five years - Apr 19, 2011
Tags: annual growth rate, assumption, beijing, brunt, china, crude steel, economy, iron and steel, measures, official statistics, plan period, power shortage, power shortages, steel association, steel demand, steel mills, steel output, summer peak, tonnes, xinhua