CICC: Chinese steel consumption growth to slow to 4-5 percent in 2012

Kong Qingying, general manager of the research department of Chinese investment bank China International Capital Corporation (CICC), has stated that Chinese steel consumption growth will probably slow to about 4-5 percent year on year in 2012, mainly due to slowing economic growth.
 
Ms. Kong said the expected slowdown of steel consumption in China is attributable to the overall economic environment, especially the European debt crisis. She also said she expects China's copper demand will increase by 5-6 percent year on year in 2011, slowing down to five percent year-on-year growth in 2012.