World’s steel makers have a lot to ponder in time of plenty

Business Day: “China will this year consume 28% of world production compared with just one-sixth in 1998. By 2008, the figure is expected to rise to 33%. China is currently the world’s biggest steel producer and its biggest importer. Imports were 45-million tons last year and are likely to stay at 40- to 45-million ton s for the rest of this decade.

Between 1970 and 2000, steel demand worldwide rose only 1% to 2% a year on average. In the past three years annual growth has been around 6%. Many in the industry think this trend will continue at least until the end of this decade. “

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