It is learned that China’s biggest steelmaker Baosteel expects a moderate increase of steel demand in China this year. According to the company’s general manager He Wenbo, the steel sector faced difficulties last year but this year should become better.
Mr. He said that although the Chinese government just released new measures to control the inflation such as the 20% tax for the 2nd house’s profit, the long term outlook for steel demand is still positive because of the process of urbanization.
Although the steel sector in China suffered a lot last year because of the cost up of raw material, weak demand, economic crisis and overcapacity. He still thinks the company’s margin this year would reach US$1.6 billion
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63354&division=A6
