Chinese steel consumption to reach 646 million mt in 2012

Chinese steel consumption in 2012 is expected to reach 646 million mt, as stated by China's Metallurgical Industry Planning and Research Institute.
 
The institute said it expects total steel consumption in China in 2011 will amount to 610 million mt. Looking at some of the major steel consuming sectors in China in 2011, the construction sector is expected to consume 336 million mt of steel products, accounting for 55.1 percent of total domestic consumption, the machine building sector will consume an estimated 118 million mt of steel products with a 19.3 percent share, the automotive sector will consume around 40 million mt of steel products with a 6.6 percent share, while the shipbuilding sector will consume an estimated 22 million mt, accounting for a 3.6 percent share of total Chinese steel consumption during the year in question. As regards 2012, the construction sector is expected consume 350 million mt of steel products, accounting for 54.2 percent of total domestic steel consumption, while the automotive, shipbuilding and machine building sectors are respectively expected to consume 44 million mt, 22 million mt and 128 million mt of steel products in 2012.