CISA: China’s crude steel output to reach 700 million mt in 2012
Tags: iron ore , raw mat , Australia , China , Singapore , Oceania , Far East , Southeast Asia , production , steelmaking , crude steel , East Asia and Pacific , Shougang Steel | similar articles »
Zhu Jimin, chairman of the China Iron and Steel Association (CISA) as well as president of major Chinese steel producer Shougang Group, stated at the 2012 CISA council meeting in Beijing that China's crude steel output is expected to reach 700 million mt in 2012, up four percent year on year.
Mr Zhu said that Chinese crude steel output totaled 683 million mt in 2011, rising by 9.2 percent year on year. Meanwhile, according to estimates, overall steel exports of China in 2011 totaled 49 million mt, up 16 percent compared to 2010.
The CISA official also appealed to domestic steel producers not to participate in the Singapore-based iron ore spot transaction platform in which Australian miner BHP Billiton has a stake. He said that otherwise their power to have a say in international iron ore prices could be diminished.
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