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NUTS & BOLTS continued from page 23 China's Crude Steel Production Might Hit 780 Million Tonnes in 2013 According to a report released by China Iron and Steel Association, the fundamentals of China's steel market will chang little next year. Global apparent consumption of steel products will post an increase of 3.1 percent to 1.475 billion tonnes in 2013, and the growth rate might be 2.0 percent higher than 2012, according to a forecast from World Steel Association. The figure might be 1.523 million tonnes in 2014, a rise of 3.3 percent. Mainland China will register a growth of three percent on the high base. Chinese central government acted quickly to make growth stabilization a priority by insisting that development was the key to investment growth when GDP growth retreated in the second quarter of this year. Therefore, the country strengthened efforts on rail transit, environmental protection, machinery manufacturing, indemnificatory housing construction, auto and home appliance industry, which brought GDP growth in the third quarter to 7.8 percent. Furthermore, crude steel production resumed a high rate growth of eight percent. Based on steel demand in the first three quarters, it is expected that China crude steel production might be 780 million tonnes in 2013, a rise of nine percent year on year; apparent consumption of crude steel will reach 730 million tonnes, up 8.9 percent from a year earlier. Chinese steel supply and demand might achieve basis balance in 2013, as CISA predicted sales-output ratio of large and medium-sized steel mills to be 99 percent. As the problems of China's industry, such as low concentration rate, overcapacity, high energy consumption and envi- ronmental protection, could not be cast off overnight, the effects of macro control may not fully pay off for two to three years. It is predicted that the fundamentals of China's steel market will be little changed next year. China's crude steel production might be 800 million tonnes, and apparent crude steel consumption may reach 760 million tonnes in 2014, a rise of three percent compared to 2013. Statistics show that steel price fluctuations are becoming more frequent, but the range is becoming smaller , since wire rod and rebar futures launched on March 27, 2013. On balance, China's steel market is expected to remain flat next year with more frequent fluctuations of a smaller range against the backdrop of a new round of reform and development. ● www.steelguru.com, source: www. steelhome.en/en,Nov 29,2013 CNH Industrial Ready to Market Construction Equipment Brands Directly in South East Asia CNH Industrial announced that it is ready to resume marketing and distributing its construction equipment brands in South East Asia and Taiwan, through its affiliate CNHI International, taking over from Kobelco. This follows the changes in the agreement between CNH (now CNH Industrial, after the merger of CNH and Fiat Industrial) and Kobelco Construction Machinery. The companies signed the agreement transferring direct control and full management of the Case Construction Equipment and New Holland Construction distribution networks in these markets to the newly formed CNH Industrial. Through its established networks of 20 dealers and over 160 outlets, CNH Industrial will offer the full Case Construction Equipment and New Holland Construction light and heavy equipment lines. CNH Industrial also announced the opening of a new regional hub in Singapore, which will provide services and support, creating a strong local presence for the company's construction equipment business in Southeast Asia and Taiwan. IDA UNIVERSAL January-February 2014 Michele Lombardi, who has been appointed head of construction equipment business for Southeast Asia and Taiwan, will lead the team in providing services and support to the distribution networks and customers in the region for sales, marketing, after sales service, logistics and spare parts activities. He commented: "We are very excited about returning to marketing our products and services directly in the region after 10 years. This move fits within CNH Industrial's strategy aiming to bring us closer to our markets, which will enable us to extend to our customers in this area the full benefits of the powerful resources of our group." Construction businesses in the region will be able to count on well-established dealer networks to provide the two brands' full product lines, backed by the powerful technological, manufacturing and support resources of CNH Industrial. ● www.marketwatch.com/story, Nov, 2013 Nuts and Bolts continued on page 27 25