Chinese crude steel output is estimated to hit 490 million tons
this year, 16 percent higher than the figure last year, said Luo
Bingsheng, deputy head of China Iron and Steel Association on
Saturday.
Although steel output has been pushed up by both overseas and
domestic demand, government macro-control policies will keep steel
exports in tight rein in the fourth quarter, said Luo.
China has seen an 18.14-percent jump of crude steel production
to 408 million tons in the first ten months, but the growth in
steel production has slowed down on a monthly basis, dropping to
13.5 percent in October from 26.08 percent in January.
Domestic steel enterprises are generally performing well this
year, said Luo, though he acknowledged that increase in raw
material prices and transportation expenses had put the companies
under pressure.
The profit rate of representative large and medium-sized steel
enterprises has been going down from 9.65 percent in March, which
deserves the notice of domestic steel producers, said Luo.
(Xinhua News Agency December 2, 2007)
