China 2007 Steel Output to Rise by 58 Mln Tons

Total steel output in China is expected to rise by 58 mln tons from 2006 to 480 mln this year, said Li Shijun, secretary-general of the China Iron and Steel Association (CISA).

Li told a conference in Shanghai that in the first half, the country's crude steel production totaled 237.58 mln tons, up 18.92 pct year-on-year.

Separately, the general manager of Baosteel's stainless steel unit Liu An also told the meeting that stainless steel production capacity is significantly outpacing consumption.

'China's annual stainless steel consumption is projected to rise to nine mln tons by 2010 from 5.3 mln in 2006, while the country's total capacity of the product was around 13 mln tons last year.'