No new capacity will be allowed in steel industry in 2020

The steel industry will consolidate the achievements of supply side structural reform and prohibit new production capacity in 2020, the China Iron and Steel Industry Association said Tuesday. According to the data of CISA, China's crude steel production is expected to reach about 980 million tons in 2019, with a cumulative growth of 176 million tons in the past five years, or an annual growth of 21.9%.

According to the key statistics, the iron and steel enterprises will lose 84.688 billion yuan in 2015, and the profit will be 180 billion yuan in 2019; the asset liability ratio of the enterprises will decrease by about 7.5 percentage points.