China’s lending curbs may slow demand growth for steel in building. Hubert Tang, a Shanghai-based UBS AG analyst, said restocking last year will also curb output with prices falling in the second half.
Output could go up to 590 million metric tons, from 565 million tons last year.
Bloomberg quoted China Securities Journal, which reported Dec. 17, citing Ma Guoqiang, general manager of Baoshan Steel, China’s steel output may exceed 600 million tons in 2010, after reaching a record last year.