China's output of steel grew "at a fast pace" in the first 10
months of this year, the National Development and Reform Commission
said yesterday.
Crude steel production grew 18.14 percent from a year earlier to
408.52 million tons, the commission said.
Production of crude iron grew 15.81 percent and production of
iron ore grew 22.04 percent in the period, the commission said.
The steel and iron sector expanded significantly in the 10
months with two-digit gains, it said.
After steel exports more than doubled in 2006, China announced a
range of policies, including cutting export tax rebates, imposing
export taxes on some products with lower added value, and requiring
export licenses for certain products.
Lower export growths will help control the growth in production,
the China Iron and Steel Association said. It maintained its
forecast for China's 2007 crude steel production at 480 million
tons, up 14 percent from 2006.
State measures have significantly slowed steel exports, helping
curb excessive growth in production.
The one-year growth rate for steel product exports in September
was 9.14 percent, compared with 39.52 percent in August and 146.48
percent in April, the association said last month.
The sharp decline means government measures to limit steel
exports have played a "significant effect" and these will continue
in the final quarter.
(Shanghai Daily November 27, 2007)
