The production of steel in China in 2013 will grow to a record 780 million tons

The growth of steel production in China is expected this year at the level of 9 percent. The total production will reach a record 780 million tons. This was reported by the National Commission of China on Reform and Development (NDRC).

Recall that in 2012, steel smelting in China increased by 3.1 percent - to 716 million 500 thousand tons.

Meanwhile, Chinese metallurgists were counting on a more serious recovery of the world economy: “modest economic growth could not become a catalyst for the growth of demand for steel, but will lead to some improvements in consumption in the second half of the year,” the NDRC report.

The exports of steel from China will grow by 10 percent and, according to the results of 2013, will exceed 61 million 500 thousand tons, experts say.

Metallurgical companies - members of the Association of Cast iron manufacturers and China became in the first half of 2013 received a total loss of $ 109 million, the CISA Association report.

The ratio of debts to the value of the assets of Chinese metallurgical plants reached 69.5 percent, according to the Ministry of Industry and Information Technology of China.

This year, China’s statistical management for the first time detained the release of data on industrial production and consumption indices, referring to the lack of time to process reports.