Beijing, China, 16 April – China will need 520 million tons of steel in 2010, according to estimates from the China Metallurgical Industrial Planning and Research Institute (CMIPRI) published Monday in Beijing.
Domestic consumption in 2008 is expected to rise by 10 percent due to building work for the Olympic Games, according to Li Xinchuang president of the CMIPRI.
The CMIPRI also said that the steel industry could face difficulties in 2008 due to a lack of coal, electricity, water and due to high iron prices.
The China Coal Industry Association (CCIA) also announced that demand for coal in China would exceed 3 billion tons in 2010.
China has annual production of coal totalling 2 billion tons, said Wang Xianzheng the president of the CCIA, which represents a rise of 12.38 percent.
In an attempt to increase coal production China plans to build 13 mining arae, namely in the provinces of Shanxi, Shaanxi, Shandong, Henan, Yunnan, Guizhou, Ningxia and Inner Mongolia. (macauhub)