News / China crude steel output rises slightly in 2016
Date: 2017-02-21
China crude steel output rises slightly in 2016
A worker at a steel factory in Dalian, Northeast China's Liaoning province, August 10, 2016. [Photo/VCG]
BEIJING - China's crude steel output rose slightly last year, according to the country's top economic planner on Monday.
Crude steel production increased 1.2 percent year on year to 808.37 million tons in 2016, compared with a 2.3 percent decrease in 2015, according to the National Development and Reform Commission (NDRC).
Meanwhile, steel prices continued to pick up, with the domestic steel price index gaining 11.23 points from November to reach 99.48 in December on average, increasing 44.13 points from the same period in 2015.
China's over-supplied steel sector has experienced years of plunging prices and factory shutdowns due to a sluggish economy. However, with an upward trend in prices from the beginning of 2016, many steel mills are resuming production.
The central government has reiterated that cutting overcapacity is high on its reform agenda as excess capacity in sectors such as steel and coal has weighed on the country's economic performance.
China plans to reduce steel output by an additional 100 million to 150 million tons by 2020. Its 2016 target to cut 45 million tons was achieved ahead of schedule.
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"TradeBearings".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
