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It's Raining Steel for China
Sep 25, 2006
China’s steel industry can be taken as the barometer of its economy that is still fomented by export-oriented production (that utilize a good deal of raw material) and fixed-asset investment. Therefore, the steel demand is augmented by the firm economic growth. It is not surprising that despite being a major target of the government’s two year-old belt-tightening policy, the steel production is still growing.
It has been warned repeatedly to China by the National Development and Reform Commission (NDRC), its top economic planning body, that regional governments should cut down the investments and close small factories with stale technology to reduce excessive investments. But, these warnings have been neglected as the recent statistics show that steel production grew strongly in the first half of this year and is anticipated to rise even faster in the other half, owing to strong demand for exports and at home.
Nevertheless, as long as investment and export of manufactured goods drive China’s economy, demand for steel products will remain sturdy despite of the government’s efforts to control it.
According to a recent report, “China Steel Industry Analysis (2006)”, by RNCOS, the growth of global steel industry has been dominated by China. China has contributed almost 56% of global steel industry’s growth since 1989 and in 2005, it became a net exporter with positive balance of steel trade (0.3 million ton). Other factors highlighted by the report are:
- Analysis of demand and supply
- Opportunities for the steel manufactures in china steel industry
- Key challenges and driving forces for Chinese Steel Industry
- Major competitors in Chinese steel industry
The report “China Steel Industry Analysis (2006)” provides extensive research and rational analysis on China Steel Industry. This report helps clients to anatomize the opportunities critical to the success of steel industry in china. Detailed data and analysis helps potential investors navigate the evolving steel market in China.
For more information visit: http://www.rncos.com/Report/IM067.htm
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