国内英语资讯:Economic Watch: Chinese steel makers post fat profits amid capacity cuts_时事

国内英语资讯:Economic Watch: Chinese steel makers post fat profits amid capacity cuts

The government's capacity-cutting efforts improved the demand-supply relations and raised corporate profitability, Valin said.

Thanks to the measures, the proportion of steel capacity being used rose to 84.7 percent of total capacity in 2017, up from 66.99 percent in 2017.

Data from the National Development and Reform Commission showed that the composite index for China's steel product prices surged 24.09 percent year on year to 124.05 points in December 2017.

China will cut ineffective steel capacity of 30 million tonnes this year, according to this year's government work report delivered last week.

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国内英语资讯:Economic Watch: Chinese steel makers post fat profits amid capacity cuts

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