Sign in | Join us  
      
 Popular Searches:diamond,cbn,tuck point blade,cup wheel,saw blade, brown fused alumina
Home -- Information


  Featured Companies
 • Shandong Xinhai…
 • Suizhou Gaincin…
 • Fuzhou Laserstates…
 • Voltage Converter…
 • Jia County Yihong…
 • Zhengzhou More Super…
 • Henan More Super…
 • YICHAUN SHENGYU…
 • Henan Fote Heavy…
 • ZZ Fote Heavy Machinery…

 Print  Add to Favorite
Custom your font size:     

China's steel sector back in the black


Post Date: 06 Feb 2017    Viewed: 239

China's steel sector swung back into the black last year as capacity reduction pushed up steel prices, the top economic planner said on Wednesday.

The profits of 373 steel companies are expected to reach 35 billion yuan ($5.1 billion) in 2016, compared with a loss of 84.7 billion yuan in 2015, according to the National Development and Reform Commission website.

Major coal companies will likely see profits more than double to 95 billion yuan last year.

China has been reducing capacity since the beginning of 2016, shutting down inefficient mines and factories, and stopping new projects.

Steel and coal, the two most troubled sectors, made great strides in cutting capacity. A large number of zombie coal mills were shut down. Two major steel companies - Baosteel, and Wuhan Iron and Steel -- merged into a more competitive corporation.

By the end of October, a total of 45 million tons of steel and 250 million tons of coal capacity had been cut, meeting annual targets ahead of schedule.

From 2016 to 2020, steel capacity will be cut by 100 to 150 million tons, with coal capacity will cut by about a half billion tons.


Superhard Material of China

Superhard Material of China

Abrasives and Grinding Products of China

Abrasives and Grinding Products of China

Coated Abrasives of China

Coated Abrasives of China

Chia International Abrasives & Grinding Exposition

China International Abrasives & Grinding Exposition

Home | About Us | Members | Contact | Advertising Quotation
Supported by Yuanfa Information Technology co.,Ltd
Copyright ©Abrasivesunion 2006. All rights reserved
Page rendered in 0.0468 seconds
备案序号:豫B2-20100036-2