Driven by economic growth, global crude steel output in 2017 increased by 5.3%

Industrial data released on Wednesday showed that global crude steel output in 2017 rose 5.3%. The main reason for the increase in output is that the global economic recovery provides the impetus for growth. In the meantime, despite the Chinese government’s continuous efforts to limit pollution and prevent pollution, the output has still risen.

The global steel output in 2017, including 66 countries, released by the World Steel Association reached 1.691 billion tons in 2017, with 1.606 billion tons in 2016. China’s output rose 5.7% YoY to 831.7 million tons.

However, in the next few months, the output of crude steel in China is expected to continue to decline as a result of the smog control in the limited production line. The deadline for production is mid-November to mid-March.

World Steel Association data show that in December the global capacity utilization was 69.5%, up 1.8 percentage points, the increase in capacity utilization mainly due to China to capacity policy.

From the beginning of 2016, Beijing eliminated 115 million tons of legal capacity and 120 million tons of illegal production capacity. Going production capacity boosted the steel prices in both China and the world at the same time.

The steel industry worth 900 billion U.S. dollars is one of the measures for the healthy development of the world economy.

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Post time: Jan-25-2018
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