Posted on 11 Feb 2014
According to the China Iron & Steel Association, China’s crude steel output is estimated at 782 million tonnes in 2013 up by about 8% from the previous year.
The country’s crude steel output in 2014 is expected to hit 800 million tonnes. It is forecasted that steel demand will increase by 3.1% to 779 million tonnes from a year ago.
Chinese steel production has soared to almost half the world's total in the past two decades. Therefore, Chinese government has accelerated to slash the excess capacity under the pressures of environmental protection and the elimination of backward production capacity.
