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The British Media: The Global Steel Industry Is Oversupply, And The Task Of Decreasing Capacity Has Been Accomplished By 2/3 In China
Wuxi Qianqiao Strip Steel Co.,Ltd | Updated: Nov 03, 2017

As per British media, according the management staff in steel industry, the oversupply of global factories has threatened industry's healthy running. Although the steel price rebounded recently, and china is also shrinking its industry scale, well as taking steps to limit imports, all this can't calm people's worry.

According to the report of British media on Oct 29, China's steel industry considers export as a relief valve as china's economy slows. China's export volume was doubled and reached to 112 million from 2008 to 2015. This volume exceeded America's total consumption. But, this level is decreasing at present.

According to the OECD's estimate, there was still 737 million of overcapacity despite the output of global steel reached to 167 million last year.

     But the OECD said that global oversupply will be decreased to 700 million tons due to demand increasing. China indicates that more than 2/3 tasks has been accomplished in terms of the target of cutting down 150 million steel capacity permanently.


Contact Us
Wuxi Qianqiao Strip Steel Co.,Ltd

Address: No.8 Huicheng Avenue, Xizhang Village, Qianqiao Town, Wuxi City, Jiangsu, China

Tel: +86-510-83233269

Fax: +86-510-83233699

E-mail: maojing@wuxiacp.com

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