China's steel output will rise by 15% in 2005

China’s steel output will rise by 15% in 2005

According to a prediction made at a recent forum held in Shanghai, China will produce 300 million tons of steel in 2005 with a rise of 15% year-on-year and more than 275 million tons of pig iron. China is expected to import 240 million tons of iron ore and more than 10 million tons of steel scrap in 2005. In 2010, country's demand for iron ore will reach 457 million tons, up by 77.1% compared to 2003. Next year, China's ferroalloy production capacity will reach 15 million tons. The country will produce about 4.7 million tons of ferroalloy in 2004 with a rise of 20% year-on-year and will export 2 million tons of ferroalloy this year. China will continue to expand coal production in 2005 and the market supply and demand will be basically kept in balance in the year. The country's production of raw coke, coking coal and coke next year will meet demand for the growth of iron and steel production.