The ‘Industry Blue Book: Chinese Industry Competitiveness Report (2010)' published by the Chinese Academy of Social Sciences, has commented that Chinese crude steel output in 2009 came to 568 million mt, ranking first in the world and equal to 2.2 times the aggregate output of Japan, Russia, the US and India. The Blue Book points out that the Chinese steel industry's international market share has increased obviously since 2004.
At the same time, the Blue Book report states that, in terms of comparative advantage index and quality competitiveness index, China is at a disadvantage compared to, for example, Japan, which places greater emphasis on high value-added steel products. China exports many low value-added steel products, which do not require advanced technology but which face severe competition, the report said.
The Blue Book report indicates that Chinese steelmakers are now giving more importance to technology development and lower costs, which is expected to strengthen the position of Chinese steel products in the international market.