Global demand and prices for raw materials, iron ore, chrome ore, coal and ferrochrome for making steel is likely to continue to increase. The Chinese steel industry has a record steel output in 2011 to meet soaring demand from infrastructure and social housing projects.
The Chinese government now is turning to high cost, previously shuttered, steel mills to make up the difference in demand. China's crude steel production grew 15.49% to 59.3 million tonnes in August and 10.3% this year to 470 million tons in the first seven months.
AlbanianMinerals President and CEO MrSahit_Muja said "Steel production in China to exceed 700 million tons in 2011. " He said "China and India's steel makers are expected to increase prices in October" . He said "The global demand for steel is expected to gradually grow over the rest of 2011" He also said "Strong economic growth and urbanization in China, India and other nations are expected to create growing demand for steel.
AlbanianMinerals expect steel demand to grow worldwide by 10 per cent in 2011 and about 15 per cent in 2012