Steel consumption in China's shipbuilding industry in 2015 is expected to increase 3.8 percent year on year to 13.5 million metric tons (tonnes), according to Li Xinchuang, head of China Metallurgical Industry Planning and Research Institute on Monday.
In 2015, new orders received by China's shipyards continued to fall amid a continuous fall in prices of new ships. Despite the profit fall in the shipbuilding industry, the monthly shipbuilding indicators continuously increased.
With the increase in monthly shipbuilding indicators and amount of new ships under construction, the shipbuilding industry is expected to consume 13.5 million tonnes of steel this year, up 3.8 percent year on year, said Li.
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