China's crude steel production is expected to reach 550mln tons this year
Published: 05 Nov 2009 00:27:50 PSTNovember 4 MetalBiz--On November 3, Luo Bingsheng, executive vice president of China Iron&Steel Association (CISA) stated that China' s crude steel production is expected to reach 550mln tons this year, up 10% from 2008.
Luo said that according to estimation of CISA based on many factors, China's resources available in steel market will increase more than 100mln tons this year, a rising of 25% around. The steel oversupply and high production are still prominent.
Luo disclosed that facing with the problem, steel enterprises should organize production with market demand, prevent the capacity to release fast, speed up eliminating obsolete capacity and promote the trans-regional and trans-provincial restructuring.
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