The national steel output is expected to reach 260 million tons in 2004, up 17 percent from last year. The total apparent consumption of steel products in China is around 276 million tons, 36 million tons more or 13 percent higher than that of last year, and the increased amount is 14 million tons less than that of last year, said Luo Bingsheng, executive deputy director of China Iron and Steel Industry Association.

Luo also noted that China's steel output took a "U" shape growth in the first three quarters. Statistics show that the outputs of steel and steel products recorded a 26.38 percent and 29.47 percent increase in the first quarter this year respectively year on year.

The growth rate of steel and steel products in the second quarter fell 10.02 percentage points and 11.84 percentage points from the first quarter. The growth rate of steel and steel products in the third quarter rose again to 22.09 percent and 21.59 percent. It is noteworthy that while iron and steel outputs witness a high growth, there is a marked drop in China's rolled steel consumption.

Statistics also suggest that the apparent consumption of steel products nationwide was up 28.31 percent in the first quarter, 11.27 percent in the second quarter, and 10.85 percent in the third quarter year on year.

By People's Daily Online