Emerging Markets Direct (EMD) announced the release of their latest China Steel Industry Report 2H10. It states that China ranked number one in crude steel production (reaches 567.8 million metric tons) again in 2009, which is 13.5% higher than previous year and sharing 46.3% of the world’s total.
The report first profiles the China Steel Industry.Driven by China’s economic development, production of steel reached 426.6 million tons as of August 2010, and is expected to reach 640 million tons for the full year. Finished steel products also increased significantly, EMD outlines the growth scenario of finished steel products, out of which heavy rail track material has an impressive growth of 52.8%.
The Chinese industry is highly fragmented with approximately 800 steel mills, majority state-owned in nature. EMD lists out the production by province out of which Hebei province comes first among other Chinese provinces (22% of total China production).