Tuesday, 24 Aug 2010
Xinhua cited the annual report on industrial competitiveness of China 2010 that, China crude steel production totaled 568 million tonnes in 2009, 2.2 folds of the combination made by other four among the top five makers, ie Japan, Russia, US and India making it a leading position in the world steel sector.

According to the report, China steel industry has shown to take an increasing market share in the world which has swelled particularly since 2004 and reached a high of 12.09% in 2008.

The report says though China is a big steel producer in terms of production and market share, competitiveness of its industry still needs to improve. This can be found from the fact that the strong steel producers like Japan and Germany are mainly exporting high value added steel products, but the other group incl. China, Russia and Ukraine is shipping out the common varieties which are less technology-contained and face severe competition.

The report forecasts that competitive edge of China steel industry is on the rising pass way.

(Sourced from Xinhua)