Zhang Jiaguo, head researcher at the China Shipbuilding Industry Corporation (CSIC), stated at the Far East Steel Conference held recently that, while in 2006-2010 total Chinese demand for shipbuilding steel was 41.52 million mt, equivalent to an average of 8.3 million mt of annual demand, demand for shipbuilding steel in 2011-2015 will reach 51.41 million mt, i.e., an annual average of 10.28 million mt.
Mr. Zhang said that after 2003 many Chinese domestic shipbuilding steel producers expanded outputs, thereby satisfying domestic shipbuilding demand to a certain degree. However, he said that there is still insufficient domestic production to meet domestic demand for categories such as ultra-high-strength ship plate and large bulb plate steel.