S. Korean steel production likely exceed 50 mln tons in 2007

South Korea's steel production is expected to exceed 50 million tons for the first time this year, said the Korea Iron and Steel Association on Friday.

The association said the steel output grew 9.6 percent on an annual basis from January through April to 17.01 million tons. It said if this pace continues, total steel production could reach 50. 13 million tons by year's end.

The association, with POSCO, Hyundai Steel, Dongbu Steel and Dongkuk Industries as its members, said the output should allow the country to hold onto its fifth place global ranking after China, Japan, the United States and Russia.

South Korea's steel production surpassed 10 million tons in 1981, and this doubled in 1989. It reached 30 million tons in 1993 and 40 million tons in 1997.

Source: Xinhua