Based on the capacity replacement plans of its domestic steel industry, China’s newly-built steelmaking capacity amounted to 38.107 million mt in 2023, while newly-built iron-smelting capacity totaled 37.4338 million mt.
At the same time, China eliminated 50.2014 million mt of old steelmaking capacity, while eliminating 49.7983 million mt of iron-smelting capacity in the given year.