China's steel capacity utilization rate above 80% in Q4

China’s steel refining and rerolling industry’s capacity utilization rate was 80.2% in the fourth quarter of 2019, above the national industrial average of 77.5%, according to figures from the country’s National Bureau of Statistics (NBS) released on Friday January 17.

The country’s industrial capacity utilization rate of 77.5% was 1.5 percentage points higher than the corresponding period a year earlier, the figures showed.
The bureau did not give reasons for the increase, but market sources believe the steel industry was a key sector bolstering China’s industrial growth last year.
The high capacity utilization rate of the steel industry was thanks to rising steel prices which motivated mills to operate at full or high capacity, several sources said.

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Miranda Song

January 20, 2020

10:32 GMT