China cuts crude steel production capacity by 24.7 million tons in Jan-Jul
In the first 7 months this year, China cut the production capacity of coal by 80 million tons roughly, reaching 50% above of the annual target at 150 million tons. Besides, China also reduced the production capacity of crude steel by 24.7 million tons, completing 80% above of the annual target at 30 million tons.
The utilization rate of steel, coal and coal power industries has increased significantly due to the cut in production capacity, and the relationship between supply and demand has improved remarkably.
In the first half this year, enterprises’ profit margins of steel, coal and coal power industries increased by 93.4%, 18.4% and 28.1% respectively.
