China projected to shed 7pc steel capacity

摘要

China will shed over the next fve years around 59mn t, or 7pc of its crude steel capacity at the end of 2017, through a mix of closures and capacity replacement projects, said investment bank Goldman Sachs. The analyst report disputes China’s ofcial capacity fgure of 1bn t for 2017 and estimates the year ended with around 829mn t of capacity. Beijing claims to have shed 120mn t/yr of blast furnace and EAF-based capacity over 2015-17 and 140mn t/yr of induction furnace-based capacity in 2017.