China apparent steel consumption falls 5.7 percent from January-October: CISA

Chimneys and cooling towers of a steel plant are seen through the fog in Beijing
Chimneys and cooling towers of a steel plant are seen through the fog in Beijing, January 17, 2013. REUTERS/Suzie Wong

November 13, 2015

SHANGHAI (Reuters) – Apparent steel consumption in China, the world’s biggest producer and consumer, fell 5.7 percent to 590.47 million tonnes in the first 10 months of the year, the China Iron and Steel Association (CISA) said on Friday.

The figure was disclosed by CISA vice-secretary general Wang Yingsheng at a conference.

China’s massive steel industry has been hit by weakening demand and a huge 400 million tonne per annum capacity surplus that has sapped prices.

Producers have relied on export markets to offset the decline in domestic demand, but crude steel output still declined 2.2 percent in the first 10 months of the year, according to official data.

(Reporting by Ruby Lian and David Stanway; Editing by Michael Perry)

  • buzz

    give youa aidea how bad it is in China, in the Schenzen province alone 270 businesses have gone under alone this year putting tens of thousands out of work with angry protests now the biggest threat to China. Over 846 million sq meters of commercial space went up for sale in October in China. To put that in perspective that is 10 pct of all Commercial space here in the U S