In 2013, apparent steel consumption in China is expected to increase by 3.5 percent to 668.8 million mt after a 1.9 percent increase in 2012, according to the short range outlook of the World Steel Association (worldsteel) for 2013 and 2014. Worldsteel's earlier forecast for China's 2013 apparent steel consumption growth was 3.1 percent.

Steel demand in China is expected to grow by 2.5 percent in 2014 as the Chinese government's measures to control investment in an effort to rebalance the economy will remain in place.

On the other hand, China's GDP is forecast to rise 8.2 percent in 2013, compared to the 7.8 percent increase achieved in 2012. In 2014, worldsteel expects that the country's GDP growth rate will increase to 8.5 percent.