The China Metallurgical Industry Planning and Research Institute, a government research bureau, stated at a press conference held in Beijing on December 3 that China's demand for finished steel in 2014 is expected to total 710 million mt, up 2.45 percent year on year, while the country's finished steel demand in 2015 is expected to reach 720 million mt, up 1.41 percent year on year.
Meanwhile, China's crude steel outputs in 2014 and 2015 are expected to reach 820 million mt and 834 million mt, up 5.26 percent and 1.7 percent year on year, respectively. In addition, it is expected that China's pig iron outputs in 2014 and 2015 will amount to 720 million mt and 732 million mt, up 1.56 percent and 1.67 percent year on year, respectively. Furthermore, China is expected to import 940 million mt of iron ore in 2014, up 14.7 percent year on year, and to import 1.0 billion mt of iron ore in 2015, up 6.4 percent year on year.