2013 steel output in China to increase by 5%

According to a new MEPS report, year 2013 steel production volume in China will increase by just under 5%. MEPS forecast an outturn for 2013 finished steel output of 740 million tonnes. This amounts to an annual increase of ~4.7 percent. Whilst this growth rate is modest compared to that seen in recent years, the expected tonnage increase is still large amounting to over 33 million tonnes. Apparent consumption according to MEPS is expected to expand by a slightly smaller amount; so downward pressure on steel prices will remain throughout 2013.

For original MEPS report, see http://www.meps.co.uk/SteelProductionNews2013.htm