Ministry of Industry & Information Technology predicted that China total crude steel output may arrive at 690 million tonnes to 700 million tonnes this year.

In the second half year, Chinese steel enterprises would slow down their production paces in consideration of the lower industrial production growth weak market demand, power rationing policy, elimination of backward capacity and tighter credit curbs etc. The steel exports may fall down at 45 million tonnes while the import would be leveled off from last year arriving at 16 million tonnes.

The steel prices are hard to go up on the fluctuating iron ore prices, and the steel enterprises would gain low profits. A separate statement released by the ministry said output of ten major nonferrous metals copper, aluminum, zinc, lead, nickel, tin, mercury, magnesium, titanium and antimony was expected to rise about 10% this year.

(Sourced from MySteel.net)
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