China's steel manufacturing industry produced 775 Mt last year, up 9.3% compared to 2012, while output is forecast to increase 3.5% this year to 802 Mt. While some restructuring of the sector is necessary, particularly to replace older and inefficient plant with larger, energy-efficient and less polluting blast furnaces, the global mining conglomerates are confident growth will be maintained for at least the next 10 years. The optimistic outlook of the mining giants, which derive significant revenues from iron ore, is backed by the Australian Bureau of Resources and Energy Economics (BREE).
展开▼
