China is expected to witness 723 million tonnes of crude steel output this year, only a 3% YoY, lowest growth rate since 2000

Mr Zhang Changfu secretary general of the China Iron and Steel Association, at an annual meeting about China's steel market outlook Saturday, also said that fixed investment in the steel industry has totaled CNY 414.27 billion (USD 66.32 billion) in the first 10 months of this year, up 3.9 percen% YoY

Mr Zhang said that increasing investment will aggravate current production overcapacity.

He said “Large steel enterprises have cut production but the output of small and medium sized steel companies is expected to surge by around 20% YoY.”

Source - Global Times