DALIAN IRON ORE: 2018 most ‘stable’ year for Chinese steel industry since global financial crisis, CISA says

The Chinese steel industry has experienced the most ‘stable’ year since the global financial crisis of 2008 amid balanced supply and demand following efforts to reduce overcapacity in the steel sector over the past two years, according to Liu Zhenjiang, secretary general of the China Iron and Steel Association (CISA).

These efforts include reducing backward and illegal steel capacity and completely removing low-quality steel production by induction furnaces, Zhenjiang said at a conference in Dalian on Thursday September 20    In January-July this year, China’s steel production reached 533 million tonnes, up 6.3% year on year, he said, adding that the country’s...

Published

Deepali Sharma

September 20, 2018

08:28 GMT

Singapore