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Chinese steel output in 2017 to rise by 3-5pct - CISA- The 19th China£¨Guangzhou£©Int¡¯l Sheet metal machinery,Forging, Stamping and Setting Equipment Exhibition
9/19/2017 îÓ½ðÕ¹- Sheetmetal machinery, Forging, Stamping expo |
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Reuters reported that China¡¯s steel output is expected to grow 3% to 5% in 2017 compared with last year, said a trade body official on Saturday, despite the closure of small outdated mills as surging prices prompted larger players to turn out more metal. Mr Qu Xiuli, vice president at China Iron and Steel Association, said that China will make about 840 million tonnes of crude steel this year. Last year, the country produced 808 million tonnes of steel.
Steel output at member steel firms of the association each with annual capacity of more than 1 million tonnes rose 6.8% in the first seven months this year, while small steel mills saw a 2% drop in production from last year. That comes after Beijing¡¯s crackdown that shut 120 million tonnes of low-tech steel capacity in the first half of this year and a continuing series of environmental inspections in an effort to curb pollution.
Mr Qu said that ¡°The Chinese steel sector is upgrading and the industry concentration ratio is rising.¡±
Of the 808 million tonnes of steel produced last year, only about 36 percent was produced by the top 10 largest steel mills in China, and their portion is expected to increase this year.
China has been striving to streamline its heavy industries to reduce debt burdens and produce more high value products.
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The 19th China£¨Guangzhou£©Int¡¯l
Sheet metal machinery,Forging, Stamping and Setting Equipment Exhibition
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