Via China Scope Financial:
- After a decade of rapid growth since 2000, China’s steel industry is undergoing a slow growth. This year, crude steel output is expected to be lower than 700 million metric tons.
- Three factors are believed to influence the production of steelworks in 2012. First, the global economic situation will not regain much of its composure in the first half of this year, thus, production for many new projects is not expected to commence in the short term. Second, the government does not encourage steel exports, so policies are likely to be introduced to reduce export tax rebate. And third, iron ore prices remain high, resulting in greater production costs compared to sales prices.
- Related Data: Monthly Production of Crude Steel, Annual Production of Crude Steel, Average Daily Production of Crude Steel, FAI of Real Estate, FAI of Transportation Equipment