Chinese Auto Industry Drive Demand for Steel

Resource from: cbcc-yinx Likes:2949

Dec 08,2006

Chinese Auto Industry Drive Demand for Steel Recently, International Conference of Special Steel for Auto Parts was held in Shanghai. On this conference, experts from different countries predicted that in the next 40 years automobile industry in China will keep on growing, so steel for auto industry are expected to be in great demand. It is estimated that by 2010 China's total demand for auto will be 9.14 million, including 4.09 million business cars and 5.053 million passenger cars. And automobiles running in China will reach 53 million. Auto parts producers in China have increased their investment on imporing advanced technologies. More and more joint ventures have been established to produce auto related products. So far, existing auto parts producers in China have exceeded 1000. By 2010, domestic output value of auto parts are going to hit RMB700 billion. The rapid growth of auto industry lead to increasing demand for steel. According to the experts, our demand for steel will reach 21.593 million tons in 2010. And the steel products mix will be as following: (million tons) Steel sheet, 10.796 Section steel, 1.295 Steel belt, 1.403 Steel tube, 0.647 Carbon structrual steel, 1.878 Alloy structrual steel, 2.072 Steel for spring, 1.619 Others, 1.876 Demand for steel used in auto industry will grow to 21.593 and 35.819 million tons by 2015 and 2020 respectively.

(cbcc-yinx)

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