International Steel Mills
October 6, 2016
China Capacity Reductions Falling Short
Written by Sandy Williams
China is not likely to meet its steel capacity reduction target of 45 million tons this year. According to data from the World Steel Association, steel output in China has fallen only 0.1 percent from January to August with production at 536 million tonnes.
Steel production rose 3 percent year-over-year in August and increased 2.6 percent from a July decline, according to data from China’s National Statistics Bureau. July’s decrease was attributed to a slowdown in production to clear the air pollutants in anticipation of last month’s G-20 meetings. In the first 10 days of September crude steel production at CISA member producers rose 4.7 percent to 1.76 million tonnes, the highest since June, according to Macquarie.
