MIIT: Chinese steel demand may reach 800 million mt by 2015
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At the 7th Bohai Region Steel Market Forum, an official of China's Ministry of Industry and Information Technology (MIIT) stated that Chinese annual steel demand may reach around 800 million mt by the end of the 2011-2015 period.
As regards output, during the 2006-2010 period Chinese domestic steel production grew rapidly. Chinese domestic crude steel output reached 627 million mt in 2010 and it is likely to exceed 700 million mt in 2011.
The MIIT said that it expects annual domestic steel demand to grow from 710 million mt to 800 million mt over the 2011-2015 period. Luo Tiejun, deputy head of MITT's raw material division, said that the domestic steel demand levels of around 800 million mt would last for 10 or 15 years.
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