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China's Steel demand expected to rise by 3.1% in 2013: CISA

By (ScrapMonster Author)
January 24, 2013 06:02:57 AM
China's steel demand is expected to rise by 3.1% in 2013, 0.6 percentage points higher than last year as the economy recovers, said China Iron and Steel Association (CISA) in its regular market report.
China's Steel demand expected to rise by 3.1% in 2013: CISA

BEIJING (Scrap Monster): China's steel demand is expected to rise by 3.1% in 2013, 0.6 percentage points higher than last year as the economy recovers, said China Iron and Steel Association (CISA) in its regular market report.

But the CISA said that while demand was set to improve this year, oversupply problems would continue to limit price increases and eat into steel firm earnings.

The recent surge in imported iron ore prices had put steel firms under heavy pressure, with the rise in costs "far exceeding" any increase in domestic steel product prices, they added.

Chinese crude steel output reached a record 716.5 million metric tonne in 2012, but the growth rate of 3.1% was 5.8 percentage points slower than in the previous year as the slowing economy eroded demand from major downstream sectors such as real estate and automobiles.

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Paul Ploumis

Paul Ploumis
(ScrapMonster Author)

Paul Ploumis is the Scrap Monster Founder and CEO.  With years of experience in the Scrap and Recycling industry, he
COMEX METAL PRICES
ItemPriceUnit
Copper2.075$US / Lb
Gold1321.50$US / Oz
Palladium692.05$US / Oz
Platinum1075.20$US / Oz
Silver18.645$US / Oz
SHFE METAL PRICES
ItemPriceUnit
Aluminum12515.00CNY / Ton
Copper36420.00CNY / Ton
Lead13850.00CNY / Ton
Rebar2468.00CNY / Ton
Wire Rod2264.00CNY / Ton
Zinc17970.00CNY / Ton
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Shanghai