Production figures for the first half of this year show that crude steel output remains on track to exceed 1 billion tonnes in the whole of 2004 for the first time. The recent slowdown in China's rate of growth will not seriously imperil this target unless it deteriorates drastically in the second semester. The International Iron & Steel Institute's latest figures put crude steel production in January/June at 503.3 million tonnes. These statistics cover countries accounting for over 95 percent of global output. MEPS is currently forecasting a full-year figure of 1,016 million tonnes, assuming a modest slowdown in China.
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