Chinese steel output to reach 1 billion tonnes by 2015

According to a recent Australian government forecast, Chinese steel production is expected to double in the next eight years from approx 480 million tonnes today to around 1 billion tonnes by 2015.

For original news report, visit http://www.iii.co.uk/news/?type=afxnews&articleid=6363799&action=article.

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2007 and 2008 world steel demand forecast

In their 'Short Term Outlook' published today, the International Iron and Steel Institute (IISI) predict that year 2007 world steel demand will be just short of 1.2 billion metric tonnes. Steel consumption in 2008 is expected to grow by 6.8%. This means that 2007 consumption of ~1198 mt will increase to ~1279 mt in 2008.

Brazil, Russia, India and China lead the growth in steel demand, accounting for ~77% of world demand growth in 2007 and ~71% of the expected growth in 2008.

For full IISI report, see http://www.worldsteel.org/index.php?action=newsdetail&id=213

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