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German steel federation sees Chinese overcapacity persisting

Steel News - Published on Fri, 17 Feb 2017

Image Source: Reuters
Reuters reported that the German steel federation expects Chinese overcapacity for steel production, which puts pressure on global prices, to persist in the coming years. Presidfent Hans Juergen Kerkhoff told the Handelsblatt steel yyyremain well above 300 million tonnes in 2020.”

Kerkhoff added that he did not rule out an increase in steel output from the United States, which kept production flat last year.

He reiterated the German federation's forecast for crude steel output to rise 1 percent in Germany this year, compared with a fall of 1 percent last year.

Actual crude steel production in China last year was 808 million tonnes, accounting for half of global production, according to Worldsteel.

Expectations of a pickup in construction activity and steel supply tightening in China, the world's largest producer, have helped steel prices rally this year.

Source :

Posted By : Rabi Wangkhem on Fri, 17 Feb 2017
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