China Financial Daily

Rapid Return of Production Growth for Steel
Expert of Lange Iron and Steel Research Center, Chen Kexin told the reporters that domestic steel production growth had a sharp decline, and even reduced. However, this condition showed that the problem of excess steel production capacity has finally surfaced, especially more serious problem of excessive supply of hot-rolled products.

The Production of Steel Growth Rate
The reporter learned from the related department that in 2008, the steel production growth rate fell sharply in China, even there appeared the first negative growth in these years. From January to August, the total production volume of national steel was 399.82 million tons, which increased 10.1% compared with the same period last year and reduced 14 percentage points increased level compared with the same time last year.

Export of China Steel is likely to be higher than the Level of Previous Year
The news on September 28 was reported that Chinese steel export rebounded greatly as it was subject to many factors. According to customs statistics, Chinese steel exports amounted to 14.89 million tons in July and August, which increased 32% compared with same period last year. In accordance with the average level from January to August, the total export volume in this year will be 62.76 tons, which is also higher than that of last year.

Domestic Steel Prices Continue to reduce
Domestic steel prices continue to fall with a deep range. The reporter learned from Steel Advisory Institution Lange Iron and Steel Net on September 28, 2008 that high-tensile steel wire and deformed bar respectively reduced 3.0% and 3.5%; long steel reduced 3.3% compared with last week, which lowered 6.1% compared with the same period last month.