Home / Metal News / Steel & Iron Ore / China Eliminates 31.70 Mln Tonnes of Crude Steel Capacities in January-April
China Eliminates 31.70 Mln Tonnes of Crude Steel Capacities in January-April
May 24,2017 14:27CST
smm insight
Source:SMM
China has clapped down 31.70 million tonnes of crude steel capacities as of late April, accounting for 63.4% of overall capacity cut target at 50 million tonnes.

SHANGHAI, May (24) – China has clapped down 31.70 million tonnes of crude steel capacities as of late April, accounting for 63.4% of overall capacity cut target at 50 million tonnes. Besides, China requires eliminating all “Ditiao Steel” across the regions in the country by June 30. “Ditiao Steel” is a Chinese name for low-quality steel produced in intermediate frequency furnace with steel scrap as raw material, as well as rolled steel products produced with such steel as raw material.  

Enterprises of China Iron and Steel Association (CISA) reported 839.33 billion yuan of revenue in the first quarter of 2017, up 38.1% YoY, resulting in a profit at 23.28 billion yuan, while those enterprises posted losses at 8.63 billion yuan in the same period of last year. Debt ratio at those enterprises declined 1.1 percentage point YoY to 70.0% in late March 2017.

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 

steel output
steel prices
ferrous metals

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news