22 Oct 2010 11:08

China's demand for steel will continue to grow over next 5 years

Shanghai. October 21. INTERFAX-CHINA - China's demand for steel will continue to grow throughout the period of the twelfth Five-Year Plan (2011-2015), deputy director of the Economic Development Research Center of Metallurgical Industry, Zheng Yuchun, said at an Oct. 21 Mysteel conference in Hangzhou.

General Secretary Hu Mingyang of the China Special Steel Enterprises Association (SSEA), meanwhile, said at the same conference that China's total steel output for 2010 will likely exceed 600 million tons.

According to Zheng, industrialization in China will not reach its peak until the end of 2020, ensuring steel product consumption remains high. Zheng added that, particularly for ferroalloys and special steel products, there will be a significant increase in quality during the growth period.