TOP STEELMAKERS 2018: All Asian mills in top 10 hold onto rankings despite supply-side reforms

Of all the recent developments in the Asia steel industry, none has garnered quite as much attention as the supply-side reforms in China, where the government has mandated strict industrial policies to control pollution levels.

This included the cutting of at least 120 million tonnes of blast furnace-based steelmaking capacity in 2016-2017, and another 140 million tonnes of induction furnace-based steelmaking capacity in the same period. Another additional planned 30 million tonnes of capacity cuts is to be completed in 2018. This has come as a surprise to market participants, who have expected China’s production capacity to drop because of these reforms. However, almost all of China’s major steel producers saw steel production increasing on a year-on-year basis in 2017. This was due to these steel producers increasing their run rates and steel output to fill the gaps vacated by...

Published

Paul Lim

June 07, 2018

09:00 GMT

Singapore