Steel production in China in 2012 increased by 3.1%

China remained the largest manufacturer in the world by increasing its production in 2012 by 3.1% to 716 million 500 thousand tons. The growth occurred mainly due to the improvement of domestic demand and new government orders to ensure the construction of the country's railways. It is reported by Bloomberg with reference to the National Bureau of Statistics of the PRC.

The production of steel in December 2012 increased by 13.1 %% compared to December 2011 and amounted to 57 million 660 thousand tons. The National Bureau of Statistics of the PRC said that the annual increase in production of steel in the country is fixed for the 31st time in a row, and the second economy in the world increased by 7.8%. Also in 2012, the production of metal rolling increased by 7.7%, to 951.86 million tons with respect to 2011. In December, the production of metal products increased by 13.5% in an annual ratio and 0.2% in a monthly progression, to 81.38 million tons.

According to the data published today, the China government intends to continue to invest in the construction of new railways. So in 2013 it is planned to allocate 650 billion yuan (about 110 billion dollars) for these purposes, and this amount is almost 20 billion yuan more than in 2012.

"Chinese production began to grow this year as in the past. Government investments in China's infrastructure to continue to play a large role in the formation of internal demand for steel," emphasized the chief analyst of the Beijing Custeel.com, Hu Yanpin.