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...


Paul Lim

June 07, 2018

09:00 GMT