CISA see: Domestic steel market, a better performance in 2010
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Luo Bingsheng, the executive vice chairman of the China Iron&Steel Association (CISA), has predicted that the steel market in China will indicate a better performance in 2010.
Mr. Luo based his opinion on the evidence of demand. In China demand
for steel products has been increasing steadily and China is at present
going through a phase of urbanization, he said. Looking at the
development of the steel industry in America, America consumed a total
of 8 billion mt of raw steel during its period of urbanization, while
the consumption of raw steel in China so far just exceeds 4 billion mt.Mentioning the annual iron ore contract price talks, Mr. Luo said that
there are great difficulties in refusing the sellers’ demand for a
20-30 percent increase, given that in the global markets iron ore
prices are on an upward trend. China is now pushing for many iron
ore-related measures such as a unified price policy across the country,
an import agent policy, a reduction in the number of iron ore importing
companies and an improvement in the standard of iron ore companies. “If
we can unify the action of our iron ore companies, we can further boost
China’s position in the international iron ore talks.”Source: Steel Orbis
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