Chinese steel production has increased dramatically
With the growth of the Chinese GDP, Chinese steel production has increased dramatically, and surpassed 200 million metric tons per year (Mtpy) in 2002 in terms of crude steel. While the rapid growth of the Chinese steel market has affected the Japanese steel industry positively, it has also made it difficult for the Japanese steel industry to secure sufficient quantities of raw materials. The rapid increase in Chinese steel production inevitably leads to the competition between the steel industries of the two countries not only in the market of finished products but also in that of raw materials. Furthermore, an excessive steel production capacity or a slow-down of the economic growth in China will lead to the export of a great quantity of semi-finished products from the country, and this will significantly influence the neighboring Asian countries.
For this reason, it is important to fully understand the present condition and future prospects of the Chinese steel industry. This paper examines the operating conditions of blast furnaces in China and the trends in the supply and demand of raw materials, prospects the steel production of the country in the near future, and points out problems arising from expanded production.
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Post time: Sep-13-2018