China’s rolled steel price begins to drop in 1st quarter of 2005

People’s Daily Online

Chinese production of rolled steel was up 22.39 percent in Q1 2005 compared to last year, while consumption during the same period rose 11.01 percent.

These figures were provided by the China Iron and Steel Association, which expects the rolled steel price to drop in the light of the present supply-demand situation.

Meanwhile, Chinese demand for rolled steel has risen by an annual average of some 20 percent in the past five years as more and more people in China buy cars and refrigerators and the country builds in preparation for the Beijing 2008 Olympics Games.

[moderately edited]

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