China Becomes the Largest Steel-importing Country

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Last updated at: (Beijing Time) Thursday, August 08, 2002

China Becomes the Largest Steel-importing Country

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Sources reveal China's steel import has dramatically increased 37.5 percent to 11.72 million tons in the first half of this year. The import has exceeded that of the US and China has turned out to be the largest steel-importing country half year ahead of the schedule as expected.

Figures show the US has only imported less as 10.98 million tons in the first half of this year, 840 thousand tons less than that of China. It indicates China, beyond the expectation of experts, has become the largest steel-importing country half a year prior to the time as expected.

The International Steel Committee says only 780 million tons of steel are needed for the world market in 2002, which leads to the production restriction and shrinking of production in countries with annual production capacity of over 100 million tons. However, China's large demand stimulates the steel output to 18.7 million tons.

By PD Online Staff Yang Ruoqian

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