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Metallurgical industry of China is changing the priorities of its development

30 January 2019

Chinese steel industry this year decided to change the course of development. It used to be that you first need to reduce excess capacity. But now the priorities are different. First of all, to do optimization of the structure capacity. The same applies to the assortment and ownership. It said the Chairman of the Chinese Association of steel producers (CVISA) Yu young. He spoke at the annual industry conference.

Young said that in 2016 began to close the power. Those whose performance exceeds 300 million tons. This refers to a year. Mostly this applies to obsolete facilities. They were engaged in the production of steel products of low quality. Current production capacity is much more serious. Their productivity is estimated at nearly 908 million tons per year.

It is known that in China there are enterprises that create new capacity. This is done without the necessary permission. Thus, this puts pressure on the market and hurting others. Young added that it is away from the quantitative growth. It is necessary to give preference to the growth of quality characteristics. In addition, we need to raise the level of efficiency. The concentration should be increased through mergers and acquisitions. Today in China, the mass products cease to be in demand. However, expanding industry in need of high-quality products. On the satisfaction of these needs should bet. National metallurgical companies have to rethink their priorities. They are required to change the direction in the direction of improve product quality.

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