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What happened to China's mills in 2017?      [2017-12-29]

China closed over 130mnt iron-making capacity and over 100mnt steel-making capacity within one year. It is said that the government targets at another 50mnt before end of 2018. However, there is as big as 95mnt iron-making and 118mnt steel-making planned. CLIK forecast that when the new capacity comes at the end of 2018 & 2019, the overall supply situation will be significantly adjusted. Good thing is that most of new mills will focus on long products which will help improve the shortage scenario of long products in China's local market.