China's utilization ratio of steel refining capacity this year is expected to reach 71.64 percent, a record low since 2001, said Jiang Feitao, an expert with Industrial Economy Institute of Chinese Academy of Sciences at a recent forum on steel industry's restructuring.
According to Jiang, the country's utilization ratio of steel refining capacity stood at 75.83 percent in 2008 while it hovered over 80 percent from 2001 to 2007 with the peak of 92.35 percent in 2002.
China produced 127.44 million tons of crude steel in the first quarter, up 1.39 percent year on year compared with a 22.92 percent fall of steel output all over the world in the same period.
Jiang noted that the domestic crude steel capacity kept at a high level in the first three months mainly due to recovering demand for building steels, adding that the plate sector still faced serious oversupply pressure.
(www.chinamining.org)
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