China’s Steel Consumption Growth To Be Below 10% In 2005

Yahoo Asia Pulse: “China’s steel consumption growth rate will be in single digits in 2005, China Association of Iron and Steel Industry President Wu Xichun predicts.

As for this year, the association forecasts China’s steel consumption growth will be 13 per cent.

China became the largest steel consumer in the world in 1994. Since then, it has kept breaking record in terms of steel consumption, and its apparent consumption of steel even topped 220 million tons in 2003, up 22.38 per cent year on year. It is expected that China’s steel consumption will be 260 million tons this year, up 13.2 per cent year on year. “

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