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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (1861)	12/10/2003 12:42:50 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China China confronts overheated steel industry BEIJING - As investment keeps pouring in, Chinese industrial experts warn that the steel sector is becoming overheated, and that risks are accumulating in both raw material supply and the sale of finished products. China produced 179.6 million tons of steel in the first ten months of this year, including 19.82 million tons produced in October, according to China Iron and Steel Association (CISA). The whole year's figures are expected to reach 210 million tons, up 15.38 percent from 182 million tons in 2002. "Owing to the rapid expansion of steel production capacity in recent years, prices of raw materials have been pushed to very high levels," said Wang Jiong, general manager of Wuhan Iron and Steel Company in central China's Hubei province. Wang said the prices of domestic ore concentrate and coke have doubled from the level they were at last year. Prices of imported ore have also risen markedly. atimes.com