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Yao Jie, deputy secretary-general of the China Association of Automobile Manufacturers, said at the Far East Steel Conference yesterday that based on the forecasted number of vehicle production and holdings in 2008-2020, the steel composition of auto parts and the localization of some parts and components and assemblies will be forecasted. The demand for Steel Products was 13.71 million tons, 15.1 million tons in 2009, 16.37 million tons in 2010, 21.76 million tons in 2015, and 27.67 million tons in 2020, which is twice the demand for this year.
Yao Jie said that from the automotive structure, 50% to 60% is composed of steel, 12% to 15% is composed of cast iron. From this year's perspective, the output of automobiles will reach 10 million, an increase of 12.61%, including 7.3 million passenger vehicles and 2.7 million commercial vehicles, with growth rates of 14.42% and 8%, respectively.