ArcelorMittal chairman Rasimi Mittal recently revealed that in the five years, the crude steel output of developing countries will account for 70% of the world. Among them, China's output will account for the vast majority, India will become the world's second largest crude steel producer in 2015-2016, while India ranked fifth last year. Rasimi Mittal believes that crude steel production in developed countries will return to pre-crisis levels within two years, but there is limited room for continued growth in the future. However, the steel industry in developed countries will play a leading role in the development of light and environmentally friendly steel. According to the latest statistics released by the National Development and Reform Commission, China's cumulative production of crude steel in the first quarter was 173.5 million tons, an increase of 9.8% year-on-year, with an average daily output of 1,927,800 tons, the highest level in the same period. The China Steel Association data also showed that the estimated crude steel output in China in early April was 19.792 million tons, an increase of 2.4% from the previous month. In this regard, Qiu Yuecheng, a senior researcher from the national price monitoring designated unit “Xiben Shinkansenâ€, told reporters that domestic steel production is growing rapidly, steel inventories have fallen back but still remain at a high level. It is expected that the domestic market will still exceed supply. . However, considering the recent sharp increase in China's net steel exports, the supply pressure in the short-term domestic crude steel market may be reduced.
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