According to China news agency, on January 24, the Brussels-based International Iron and Steel Institute (IISI) revealed that with 489 million tons of steel, China was once again the world's largest producer of crude steel in 2007. However, including China, the EU, the CIS and the United States, major steel-producing countries and regions are slowing crude steel output growth.
According to the report, in 2007, the crude steel output of 67 major steel-producing countries and regions was 1.3 billion tons, an increase of 7.5%. This is the fifth consecutive year of more than 7 percent growth. Among major steel-producing countries, China's output of 489 million tons – an increase of 15.7% - still makes China the world's largest producer of crude steel. Japan ranks second with 120 million tons, followed by the United States with 97.2 million tons. Russia, India, South Korea, Germany, Ukraine, Brazil and Italy are also among the ranks.
China's steel output is not only the world's first, but also yields more than the sum of the output of the world's second to eighth largest outputs, making up 36.4% of the world’s production. Since 2004, it has shown an increasing trend: 26.2% in 2004, 31% in 2005, and 31% in 2006. It is worth noting that global steel output growth is slowing: the current growth rate of 7.5% is lower than the 8.8% in 2006. China's growth rate of 15.7% in 2007 was also lower than that in 2006 (18.8%) and 2005 (26.8%). International Iron and Steel Institute spokesman Nicholas Walters said that China's steel production growth, in the second half of 2007, was slower than in the first half of the year. On the other hand, China's steel output growth remains healthy.
By People's Daily Online
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