Growth of Chinese steel output and consumption to slow in 2012

Chinese crude steel production in 2012 will rise by 5.8 percent year on year to 728 million mt, while its consumption of crude steel will increase by 4.6 percent year on year to 685 million mt, according to a poll carried out by Reuters.
 
Meanwhile, China's crude steel production in 2011 is expected to climb by 9.7 percent to 688 million mt, with apparent domestic consumption expected to reach 655 million mt, an increase of nine percent, both compared to last year, based on the figures for the January-November period of the current year
 
Reuters stated that, unless the Chinese government relaxes its tight monetary policy for the domestic real estate market which accounts for half of Chinese steel consumption, no significant recovery of domestic steel demand is likely to be seen.