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Steel demand predicted to slow

6 October 2010
Steel demand growth in China is set to slow, according to a report published by the World Steel Association.

"China’s apparent steel use growth will slow considerably in the remaining part of this year due to the Chinese government’s effort to cool the real estate sector and ongoing steel production control,” the association said.

Chinese demand is likely to increase 3.5 per cent in 2010, down from a projected 6.7 per cent this year, it added.

China’s crude steel output fell 1.1 per cent year-on-year to 51.64m tonnes in August 2010, according to statistics from the National Development and Reform Commission. In the first eight months of this year, the country produced 425.77m tonnes of crude steel, 15.3 per cent more than in the same period of 2009.

Metal ores are the largest commodity shipped along the Yangtze River. In 2009, the major Yangtze ports handled some 280m tons of metal ores, up 16 per cent year-on-year.
     
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