China’s apparent crude steel consumption to grow by 8-10 percent in 2010

Monday, 08 February 2010 15:17:18 (GMT+2)

The president of the China Iron and Steel Association (CISA), Deng Qilin, stated on February 5 that apparent consumption of crude steel in China is expected to grow by 8-10 percent in 2010.

According to the figures from the CISA, the overall revenues of large and medium sized steel producing enterprises in China in 2009 reached RMB 2,244.14 billion ($328.63 billion), with net profits totaling RMB 55.39 billion ($8.11 billion). Meanwhile, the total crude steel output of the companies in question came to 567.8424 million mt, showing an increase of 13.5 year on year. Meanwhile, apparent consumption of crude steel in the domestic market in 2009 stood at the level of 564.97 million mt.

Mr. Deng remarked that the Chinese steel industry had increased its output in 2009 without increasing its revenues.

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