China Remains World's Top Steel Producer for 7 Years

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Last updated at: (Beijing Time) Friday, July 11, 2003

China Remains World's Top Steel Producer for 7 Years

China remained the world's top steel producer for seven consecutive years in 2002, when it turned out 182.24 million tons of steel, according to Friday's Economic Information Daily.

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China remained the world's top steel producer for seven consecutive years in 2002, when it turned out 182.24 million tons of steel, according to Friday's Economic Information Daily.

The figure represents an increase of 31.22 million tons, or 20.67 percent, from the previous year, said the newspaper, quoting the latest statistics released by the China Iron and Steel Industry Association.

According to a report of the association, more than 60 percent of the country's steel, iron and rolled steel was produced by enterprises based in the east and north of China last year, such as Hebei, Liaoning, Shanghai, Jiangsu, Hubei and Shandong.

Meanwhile, the output of special varieties of steel and high value-added products increased by a big margin, the report says without giving details.

Large and medium-sized steel enterprises put more in environmental protection, while continuing to boost technological renovation and research and development, it says.

The report predicts that China's steel production this year may grow by over 10 percent to more than 200 million tons, with the total steel consumption rising by over 12 percent.

China becomes No. 1 steel importer in world

China has surpassed the United States to become the world's top importer of rolled steel, the Economic Information Daily reported.

China imported 24.49 million tons of rolled steel last year, up42.23 percent from that of 2001, and the volume is second only to the country's record import of 30.26 million tons in 1993, according to the newspaper, which cited an annual statistical report released by the China Iron and Steel Industry Association on Thursday.

Of last year's total import volume, iron ore accounted for up to 111.5 million tons, up 20.79 percent from the 2001 level, but imported steel bars accounted for 4.6 million tons, and discarded steel, 7.85 million tons, down 43.69 percent and 19.76 percent, respectively.

Most of China's rolled steel is imported from Japan, the Republic of Korea, Russia, Kazakhstan, and Taiwan. In addition, 57.78 percent of the rolled steel was imported via general trade, while another 28.63 percent were imported via the processing trade, said the newspaper.

According to the newspaper, the country added 13.2 billion US dollars to its foreign trade deficit last year, 2.78 billion US dollars, or 26.7 percent, more than in 2001

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