Overcapacity, oversupply weigh on China steel

Dec 30, 2013 | 11:25 AM |

Tags  steel, steel overcapacity, China Iron and Steel Association, Cisa, Zhang Changfu, National Bureau of Statistics

SHANGHAI — Steel overcapacity and oversupply in China, the world’s largest steelmaker, remained the most pressing challenge for the sector in 2013, with the gap between supply and demand still disturbingly wide.

China’s crude steel output could total 782 million tonnes in 2013, based on a production volume of 715 million tonnes for the first 11 months, Zhang Changfu, vice chairman and secretary general of the China Iron and Steel Association (Cisa), said at a recent conference in Shanghai. This is up 8 percent from final 2012 crude steel output of 724 million tonnes.

But actual crude steel output is likely to be much higher, as many small unlicensed mills aren’t included in data from the National Bureau of Statistics (NBS), Zhang said.....

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