According to the National Development and Reform Commission (NDRC), steel production in China continues to rise and steel product prices rise amid a global recovery and a stronger domestic economy combined, boosting demand.
The steel price index stood at 116.62 points in November, up 0.92 percentage points from the previous month, the NDRC said in an online report. Steel production increased 5.7 percent year on year to 764.8 million tonnes in the first 11 months of 2017, according to the NDRC.
The growth in production came amid continued government efforts to reduce overcapacity in the bloated sector. Last year, China fulfilled its plans to cut steel production by 50 million tons.
In a report by the Chinese Metallurgical Institute for Planning and Research, last year's steel production in China was projected at 832 million tonnes. China's steel output could rise 0.7 percent this year to 838 million tonnes, according to the report.
China's steel industry is growing alongside steel prices
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Azovpromstal® 4 January 2018 г. 11:57 |
