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Print[Ferro-alloys.com] Li Xinchuang, president of China Metallurgical Industry Planning and Research Institution and executive vice Secretary-General of CISA, disclosed recently that China’s GDP would increase by 7.4% year-on-year in 2014 while fixed asset investment would increase by 17%. Meanwhile, steel export would maintain a certain increase. On the premise of this, domestic crude steel was likely to exceed 800 milllion mt in 2014.
President Li said they believed GDP growth would stay at 7.4% in 2014. Based this cardinal number, they judged investment growth would not be less than 17%. He disclosed steel consumption in construction industry in 2013 was 380 million mt and it would reach 390 million next year. Construction industry was still the major consumption market of steel. Steel consumption in machinery industry was 130 million mt this year and it would reach 140 million mt next year. Steel consumption in auto industry was 46 million mt this year and it would reach 50 million next year.
President Li said global economic recovery, domestic infrastructure investment and reform measures would stimulate market energy and promote steel industry. Meanwhile, atmospheric governance and internal problem of steel industry might have some adverse impact.
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