Spotlight on China Steel: New Crude Steel Capacity Expansion Slowing in 2020

China’s crude steel capacity reached 1.21 billion mt/year in 2019, of which around 155 million mt/year was electric arc furnace or EAF steelmaking capacity.

Net crude steel capacity expansion reached 42 million mt/year in the year, but is set to slow to 14 million mt/year in 2020. From 2023, China’s crude steel capacity will gradually stabilize.

However, some market sources suggest…