NANJING WANHUI NEW MATERIAL TECHNOLOGY CO.LTD

World demand for steel is likely to rebound this year, growing by 13.1 percent after a contraction in 2009, and should hit a record high in 2011, the World Steel Association said on Monday.
Citing better than expected forecasts in Europe, the United States and former members of the Soviet Union, the WSA said it looked for "a steady and stable steel recovery."
It added in a statement that "our current forecast does not foresee a double dip recession as feared by some."
After a 6.6 percent contraction last year, global steel use should rise 13.1 percent to 1.272 billion metric tonnes in 2010, exceeding the 2007 pre-economic crisis total of 1.222 billion tonnes.
The association said that in 2011 demand should grow by 5.3 percent to a record 1.340 billion tonnes.
But Daniel Novegill, head of the association's economics committee, cautioned that steel demand in developed countries in 2011 would still be well below pre-crisis levels.
"The recovery so far has been mainly driven by inventory cycle and government stimulus packages whose effects are now fading.
"But whether consumer and corporate spending will now pick up and continue the recovery momentum is yet to be seen," he said.
The WSA report said that demand in China, the world's leading producer and consumer of steel, will rise by 6.7 percent in 2010 after a 24.8 percent surge last year.
But the report warned that steel use is expected to slow "considerably in the remaining part of the year due to the Chinese government's efforts to cool down the real estate sector and ongoing production control."
China will account for around 45 percent of world steel use 2011, according to the WSA.
The association said that its figures reflect "apparent" steel use, deliveries of steel to the market from domestic producers and importers. "Real" steel use would take into account steel delivered to or drawn from inventories.
Apparent steel use in 2010 is forecast to expand 8.2 percent in India, 32.9 percent in the United States, 18.9 percent in the European Union, 19.1 percent in Japan and 26.5 percent in former Communist states.
The WSA represents approximately 180 producers and industry associations producing about 85 percent of the world's steel.