China recorded a steel logistics volume of more than three billion tonnes last year and will still be growing at a rate of more than 10 per cent during the next five years, said He Liming, chairman of China Federation of Logistics and Purchasing.

During the first 11 months of last year, China's logistics goods value added up to CNY114.6 trillion (US$17.4 trillion), up 16.2 per cent year on year, reported Xinhua. The value for the whole year of 2010 is predicted to be above CNY125 trillion, up 16 per cent.

China produced 577 million tonnes of crude steel from January to November 2010. The annual production volume is expected to surpass 620 million tonnes. Estimation shows that every tonne of steel generates five tonnes of logistics volume. 620 million tonnes will generate over three billion tonnes' logistics volume.

Source: Shipping Gazette