Sahit Muja: China's steel production to hit a record 715 million tons in 2012
Albanian Minerals forecast that China's crude steel output to increase to 715 million tons this year.
China has become a powerhouse in the global crude steel and stainless steel industry. Chinese steel industry, which now accounts for 42% of world steel production.
World crude steel production reached 1,527 million tons in 2011. China's crude steel output increased 8.9 percent year-on-year to 683.27 million tonnes in 2011.
Albanian Minerals forecast that demands for iron ore, coal, nickel, chrome ore, ferrochrome to hit a record in China this year.
China's production of crude stainless steel jumped nearly 2% in the second quarter compared to the first, in response to strong demand.
China's average daily crude steel output hit 2.1 million tonnes in June, 2012 . China's economy grew 7.6 percent in the second quarter of 2012 from a year earlier
China produced 60.21 million tonnes of crude steel in June, up 0.6 percent from 2011.
Steel output for the first six months rose 1.8 percent to 357.2 million tonnes from the same period last year.
China's crude steel output increased 8.9 percent year-on-year to 683.27 million tonnes last year. China, the world's largest stainless steel producer, increased output of the corrosion resistant steel product by 11.9% to 12.6 million tons in 2011.
With recent encouraging economic reports, I believe that the Steel industry is on track for a slow but steady recovery.
Albanian Minerals expect that steel consumption to continue to drive up in Q3 and Q4 of 2012.
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