China’s crude steel output to hit 980 mln tonnes in 2019

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SHANGHAI, Dec. 15 (Xinhua) — China’s crude steel output is expected to reach 980 million tonnes in 2019, an annual increase of 7 percent, said He Wenbo, Party chief of the China Iron and Steel Industry Association, on Sunday.

Steel production gained growth momentum in the first half of the year, but lost momentum in the second half, he told a conference in Shanghai, adding that both imports and exports of steel declined.

The industry’s profit margins declined due to the rising costs of iron ore and coking coal and increased investment in environmental protection, the official said.

The industry will strictly limit the adding of new capacity and promote mergers and acquisitions and ultra-low emissions renovation of existing capacity, He said.

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