China will have developed 15 ocean oil and gas fields, built 76 offshore platforms, six FPSOs and put a 1,400-kilometer long seabed pipeline by the end of 2010, which will require 1.7 million tons of steel. Besides, there is a need to replace the existing ocean engineering equipment, about 50 percent of which were manufactured in the early 1980s. All these have left a promising prospect for the domestic steel industry...

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