Chinese rental production in 2013 will exceed 1 billion tons

According to the latest updated data from the National Development and Reform Commission, the production of steel in China in the first 10 months of this year increased by 8.3 percent in an annual comparison of to 652.48 million tons, which is more intensively than the growth of 2.1 percent over the same period last year.

The rental output increased by 11.6 percent compared to last year to 888.32 million tons for the same period, which is 5.3 percentage points higher than growth over the same period last year. Given the average monthly pace of 65.248 million tons, Chinese production steel in 2013, most likely, can cross the level of 780 million tons, while the output may exceed 1 billion tons and will be approximately 1065 million tons. The exports of steel from January to October grew by 13.6 percent a year by a year to 51.97 million tons, and import increased by 0.6 percent to 11.620 million tons.

Last year, world production reached almost 1.5 billion tons per year. Geographically production has changed greatly over the past decade. In 2000, China produced 15 percent steel in the world. Today, almost half of steel in the world has been produced in China, and Chinese production has grown by more than 500 percent since 2000. The level of steel consumption in China is illustrated by the fact that 60 percent of the reinforcement that is produced in the world is currently consumed in China.