China's demand for stainless steel to increase gradually

Friday, 16 July 2004 10:03:58 (GMT+3)   |  
       

China’s demand for stainless steel to increase gradually

Chinese demand for molybdenum-based stainless will increase gradually within the next few years with the development of country's economy. The apparent consumption of stainless steel is expected to reach 5.5 million tons in 2005 and then continue to rise by 5% year-on-year till 2010 when the consumption level will amount to approximately 7.5 million tons per year. Stainless steel output will stand to 2.5 million tons in 2005 and increase to 5 million tons by 2010, according to China Iron & Steel Association (CISA). Production of molybdenum will rise by 1'000 tons year-on-year from 2005 and reach 10'000 tons in 2010.

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