Domestic Output Increases
Source: Xinhua |
August 4, 2010, Wednesday
|
Print Edition
Print Edition
CHINA'S crude steel output in the first half of this year hit 323 million tons, up 21.09 percent year on year, sparking concern about increases in inventory and oversupply in the second half.
Crude steel output per day in the first half averaged 1.7855 million tons, up 14.77 percent from the same period of last year, Luo Bingsheng, vice chairman of the China Iron and Steel Association, said yesterday.
The growth in output came on the back of increased domestic demand, Luo said.
China's economy expanded 11.1 percent year on year in the first half of this year, with fixed-asset investment rising 25 percent to 11.4187 trillion yuan (US$1.67 trillion).
But the rapid growth in production is leading to oversupply, with CISA figures showing total inventory at China's 22 large and medium cities had reached 10.8 million tons by the end of June, up 34.16 percent from the beginning of the year.
The sector's electricity consumption in the first half jumped 29.3 percent year on year, and exhaust gas emissions rose 13.18 percent.
Crude steel output per day in the first half averaged 1.7855 million tons, up 14.77 percent from the same period of last year, Luo Bingsheng, vice chairman of the China Iron and Steel Association, said yesterday.
The growth in output came on the back of increased domestic demand, Luo said.
China's economy expanded 11.1 percent year on year in the first half of this year, with fixed-asset investment rising 25 percent to 11.4187 trillion yuan (US$1.67 trillion).
But the rapid growth in production is leading to oversupply, with CISA figures showing total inventory at China's 22 large and medium cities had reached 10.8 million tons by the end of June, up 34.16 percent from the beginning of the year.
The sector's electricity consumption in the first half jumped 29.3 percent year on year, and exhaust gas emissions rose 13.18 percent.
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