2008-09-30 18:53:05 - Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report provides an overview of the global steel industry and the world's largest steel producer and consumer, China.

The report,'China Steel Industry Forecast till 2012' which is available at www.reportbuyer.com/go/RCS00393 includes the production and consumption patterns, types of steel products, and major exporting-importing countries. The report analyses the growth drivers, opportunities, challenges, and future outlook of the industry.

Authors of the report say that China's steel industry is among the world's major industries and

is registering the fastest growth rate not only in terms of production but consumption also. China's steel consumption has risen on the back of a cheap production base supported by the vast availability of cheap labour in the country. the report.

Also, the soaring economy of the country which shows an annual growth rate of more than 10%, has fuelled the demand for steel, especially of long products used in the construction and automobile industry. Indeed, the construction sector consumed 54% of the total steel consumption in 2006, while the automobile industry consumed nearly 6%.

The report says the country expanded its steel-making capacity to meet the demand of its rapidly growing economy. Basically, strong economic growth and cheap production base are the major driving forces for rise in steel consumption.

The study finds that the steel industry in China has been witnessing phenomenal growth recently. In 2006, total crude steel production in the country reached 422.7 Million Metric Tons and China also accounted for approx 34% of total global crude steel demand in 2006. During the period 2000-2006, demand for steel in China grew at a CAGR of 19.18%.
The publication provides key financials of players like Shanghai Baosteel Group Corporation, Anshan Iron & Steel Group, Wuhan Iron & Steel, Shougang, Jinan Iron & Steel Co. Ltd and Alison Group.

Key Findings:

China is the top crude steel producing country in the world and accounted for approx 34% of global production in 2006.
Huge government support in the form of subsidies has fuelled the creation of the world's largest steel industry.
High import of flat and long products by China offers great opportunity for global steel players.
Over-production and dependency on imported raw material are the biggest challenges that the Chinese steel industry needs to tackle for sustained growth in future.  

'China Steel Industry Forecast till 2012' is available from Report Buyer.
For more information, see:

www.reportbuyer.com/industry_manufacturing/metals/steel/china_st ..

Report Buyer product ID: RCS00393

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