September 08, 2008

Steel prices rise will effect machinery industry in China

According to Mr ZhouJianPing secretary of industry management of National Machinery Industry Bureau the rise of steel prices will have an impact on the Machinery Industry in China.

He said that the machinery industry is a big consumer of steel accounting for nearly 80% in some machinery products. According to Statistics, the steel consumption of machinery industry accounted for 10% in the total steel output in china.

The rise of steel prices has a great impact on engineering machinery, electrical appliances, automobiles, heavy machinery, petrochemical, machine tools and basic parts, agricultural machinery, internal combustion engine and so on.