China's steel capacity utilization has been raised to 80% at present from 70% in 2015, basically in a reasonable territory, said Wang Lianzhong, deputy secretary general of China Chamber of Commerce for Metallurgical Enterprises.
Currently, China's steel industry has entered a relative balance between supply and demand from previously severe supply glut following persistent efforts in cutting surplus steel capacity since 2016.
"China's steel sector will face pressures from weak capacity, environmental protection and industry upgrading in 2018, so we should stay on alert and continue efforts in cutting surplus capacity," said Wang.
Sources:sxcoal
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