MIIT: Chinese steel capacity utilization to reach 75% or more by 2020

China’s Ministry of Industry and Information Technology (MIIT) has announced that during the 13th Five-Year Plan period (2016-20) China plans to cut excess crude steel output capacity by 100-150 million mt, which will restore Chinese steel capacity utilization to 75 percent or higher by the end of 2020.

 

As indicated by the MIIT, China’s steel capacity utilization rate has declined since 2006, remaining lower than 75 percent since 2012. In 2015, China’s crude steel capacity utilization rate remained below 67 percent.