China''s apparent consumption of crude steel is likely to reach 596 million tonnes in 2010 YoY increase of 5.6%.
Apparent consumption represents the sum of net imports and output, and can be used to estimate real consumption excluding inventory.
Mr Luo Bingsheng deputy head of the China Iron and Steel Association, expects the country''s crude steel output to climb 8.2% YoY in 2010 to reach 624 million tonnes.
Mr Luo further noted that a rising investment in 2011 would result in an increase in China''s steel demand.
He said “If the year on year growth of the country''s social fixed assets investment maintained itself at around 20% next year, China''s crude steel apparent consumption would see an annual increase of 40 million to 50 million tonnes next year.”