China's Steel Output in 2010 May Hit New High

China's steel output in 2010 might hit a new high of 620 to 630 million tonnes, a 10 percent increase year on year, Minister of Industry and Information Technology Li Yizhong forecast at a forum Monday.

China's steel output reached 269 million tones in the first five months of this year, up by 23.8 percent year on year, Li said on Monday at the National Steel Industry Forum held in Dalian city of northeast China's Liaoning Province.

From January to May this year, China's fixed asset investment in its steel industry grew by 13.8 percent year on year to stand at 135.6 billion yuan (20 billion U.S. dollars), Li said.

Also, steel output is expected to be continually increased due to newly built steel projects, he said.

China, however, will not approve any new steel construction before the end of 2011, as the growing steel production capacity makes it more difficult for the country to save energy and reduce emissions, Li added.