August 22, 2008

NDRC sees Chinese steel supply outpacing demand in 2008

China’s National Development and Reform Commission said China's steel supply will continue to outpace demand next year because the country's steel firms are still expanding capacity.

NDRC said that “The domestic steel market will also face supply pressure as demand for steel exports is expected to weaken next year.” However it noted that government measures to curb steel exports will show results.

NDRC added that the China government should step up industry restructuring and energy conservation in the steel sector.