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Steel production in China last year was a record

1 February 2019

National Bureau of statistics of China have provided fresh data for the previous year. So for December, the steel production reached 76,12 million tons. In an average production amounted to 2,455 million tons. This figure was the low for last year. However, it is 8.2% more than in December 2017. Just last year produced 928,26 million tons. He exceeded in 2017 by 6.6%.

At the end of the year, the growth rate was significantly increased. So increased the smelting of iron. The figure was higher than for the previous year by 3%. In quantitative terms, it was 771,05 million tons. Specifically, in December the volume of iron production amounted to 63.2 million tonnes. This is 9.4% more than in December the year before. Based on the results obtained, it is possible to make an interesting conclusion. It was expected that the 2018 winter restrictions in the country will become tougher. But it turned out that they are more stringent were the restrictions in 2017. Then steel mills had to significantly reduce the load capacity. The reduction reached 30% in some Chinese provinces.

So the Chinese iron and steel enterprises have set a record in 2018. According to experts, to beat him this year will not work. At the end of the current year output will be reduced. It will be about 900 million tons. The reason is called decrease in demand. The main consumers are enterprises of the construction sector, energy. This includes the automotive industry. They will reduce the volume of their orders. This is reported by specialists of the Central planning Institute in metallurgical industry. In addition, the industry will continue to be busy structural optimization. So will shut down excess capacity.

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