China and Global Steel

Global steel demand is expected to rise by between 4% and 5% in both 2005 and 2006, according to the industry association the International Iron and Steel Institute (IISI).

The IISI estimates that global demand for finished steel products will be between 1.040 billion and 1.053 billion tons in 2006, compared with 972 million tons in 2004.

The strongest growth continues to come from China, which should see a 10% increase in steel demand in 2005 and a further 7% to 10% growth next year," the IISI said.

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