September 07, 2008

29 listed steelmakers in China to produce 16% more steel in 2008

It is reported that 29 steelmakers released 2007 annual report and are counted to have a total production of 183.8519 million tonnes in 2007 and the listed companies are forecast to make 213.285 million tonnes in 2008 increasing 16% YoY.

As per report of the 29 steelmakers, 15 posted output growth of more than 10%; Shougang yet registered minus growth due to relocation project to serve the Olympic Games.

Baosteel, Wuhan Steel and Anshan Steel are predicted to generate 57.85 million tonnes in total up by 11.79% YoY than last year's 51.75 million tonnes. These three leading companies should take 27% of production of the 29 listed companies. In addition apart from Baosteel, Wuhan Steel Anshan Steel, Anyang Steel, Valin Pipe & Wire, Baosteel, Taigang and Tanggang are stepping into 10 million tonnes per year list.