皇冠体育app

(Agencies)
Updated: 2008-02-19 13:46

皇冠体育app's consumption of crude steel in 2008 is expected to rise around 11 percent, representing an increase of some 44 to 50 million tons, the 皇冠体育app Iron and Steel Association said in a statement.

Consumption of crude steel in 2007 was 434.36 million tons, up 11.87 percent.

The association expects crude steel production of 520 million tons this year, up about 6.3 percent.

皇冠体育app is expected to export around 52.5 million tons of crude steel this year, down 27 percent.

The association expects 皇冠体育app to import 16 million tons of steel products and 220,000 tons of steel billet in 2008.

Production costs of Chinese companies are expected to rise further amid high prices for iron ore, power, coking coal. The cost of complying with environmental regulations is also rising.

皇冠体育app will further encourage the consolidation of the steel industry via acquisitions this year, it added.