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China's ban on illegal steel production activities      [2019-04-04]

China intends to conduct random inspections among provincial regions that are "prone to illegal steel production activities” this year. Methods such as satellite remote sensing will be used to check unwanted steel production.

The steel output was almost 150 million tonnes in the first two months of this year, which means the volume is up by more than 9% compared to the opening months of 2018, when output totalled 127 million tonnes.

China's steel industry reported profits of around 470 billion yuan (or US$ 70 billion) in 2018. This represents a 39% year-on-year increase. Meanwhile crude steel output grew 6.6% to a record high of 928 million tonnes.

It is paramount that the government is able to strictly enforce the ban on new capacity to consolidate the achievements of the supply-side structural reform in the steel sector.