Baosteel Group predicts a slight increase in demand for steel in China

Baosteel Group, which is the second largest manufacturer in the world after Arcelormittal, expects a moderate increase in demand for steel from China this year, as the general director of Wenbo said. In addition, this information was confirmed by the chairman of the Baoshan & Steel Co Bloc in an interview during the All -Chinese Assembly of People's Representatives in Beijing.

Prime Minister Wen Jiabao announced today in his last annual report that in 2013, economic growth will be 7.5 percent. The next Chinese Prime Minister Lee Katsyan emphasized in his first political statement about plans to build railways and sewer systems to support the country's population throughout the territory. The further process of urbanization will maintain the demand for steel.

The Shanghai company Baosteel Group can profit this year in the amount of 10 billion yuan, which is $ 1.6 billion. The company does not plan to add new capacities in Shanghai, and intends to comply with environmental norms. According to representatives of the company, net profit in 2012 increased by 40 percent to 10.3 billion yuan, including one -time income from the sale of assets.