China and India has double digit growth in steel production

Albanian Minerals

Global steel production hit a record China and India has double digit growth
Albanian Minerals estimates global crude steel production for 2011 to be 1500 million tonnes, compared to 1400 million in

2010.
Chinese steel output for 2011 may hit a record high at 710 million tonnes , an increase of over 11% as compared to 2010 when production was at 627 million tonnes.

Indian steel production grew by a record 10% in 2011.
Albanian Minerals estimates the total steel producing capacity of China and India is at 900 million tonnes.

China produces somewhere near 47% of the world's steel.

China and India is continuing to grow its internal steel production at greater than world average rates.
Albanian Minerals President and CEO Sahit Muja said "China and India has 37% of the world's population, which has significant growth effect in its steel consumption, production and demand".

China and India are both in the juvenile stages of their steel use.

They still have a long way to go in ramping up their countrywide infrastructure requirements.
This infrastructure building trend in China and India is expected to continue for decades.

China is obviously the main source of steel consumption growth due to its economic size.
But we are seeing significant growth in steel consumption from other countries, too.

There are significant infrastructure projections coming out of India, Europe, Canada, Australia, Russia, Turkey, Middle East and Brazil.
Albanian Minerals estimates global steel production growth for 2012 at 7%.