China's crude steel production in 2013 or fall

The metallurgical industry demand forecast of 2013 released by the Planning and Research Institute of the Metallurgical Industry recently shows that according to the economic development situation at home and abroad and the development of the downstream industry, China's crude steel production is expected to reach 716 million tons in 2012, an increase of 4.5% year-on-year, compared to 2011. The growth rate declined by 4.4 percentage points. Crude steel production in 2013 is expected to be 746 million tons, a year-on-year increase of 4.2%, and the growth rate will further decline.

Li Xinchuang, president of the Planning and Research Institute of the Metallurgical Industry, stated that under the background of the slowdown of economic growth in China and the increasingly complex international economic environment in 2012, the development of downstream industries such as machinery and home appliances slowed down, and shipbuilding and container industries emerged. With negative growth, although China’s steel consumption has increased, the increase has declined significantly. "In addition to the declining trend of the shipbuilding industry in 2013 and the growth of the container and household appliance industries in 2012, all other industries will have different degrees of growth. Therefore, steel demand will continue to increase slightly," said Li Xinchuang.

At present, China's steel production remains relatively high. According to the latest data released by the China Iron and Steel Association, the average daily output of crude steel for major and medium-sized enterprises in mid-November was 16.328 million tons, down by 0.3% from the previous month; the average daily production of crude steel in mid-November is estimated to be 1,951,800 tons. Decline by 0.25% from the previous quarter.