China demand expected to grow by 60 MT in 2008
The latest issue of the China Metallurgical Newsletter has Chinese steel industry data through October 2007. Based on the first ten months it looks like finished steel demand is likely to come in around 510 million tonnes for the 2007, while net exports are likley to finish 2007 at around 45 million tonnes (exports 62 MT and imports 17 MT).
Also in this issue, the EVP of the China Iron & Steel Associaiton (CISA), Mr. Luo Bingsheng, provides a few forecasts for 2008.
GDP Growth 11%
Steel demand growth (ADC) 12% — this implies about 60 MT of demand growth in 2008
Crude steel production growth 10% — from 490 MT in 2007 to 540 MT in 2008
