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Steel demand growth to slow down

By Dai Yan (chinadaily.com.cn)
Updated: 2007-04-05 14:32

China will see a smaller growth in steel demand in 2007, according to an industry report issued by the National Development and Reform Commission.

China became a net steel exporter in 2006. Exports of steel products and steel billets totaled 34.73 million tons, accounting for 53 percent of the added steel output in 2005. China's 2006 steel output rose by 30.65 million tons, half less than the increase of 68.42 million tons in 2005, which resulted in stable domestic steel prices last year.