He Wenbo: China’s steel capacity not excessive, sufficient for future demand

He Wenbo: China’s steel capacity not excessive, sufficient for future demand

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He Wenbo, chief executive officer of the China Iron and Steel Association (CISA), has stated at the 11th China International Steel Congress held in Shanghai that at present, China’s steel capacity is not excessive, but in terms of total volume the current capacity scale is big enough to support demand for steel in the future.

If steelmakers are blindly optimistic as regards the future prospects for the steel industry and continue to expand capacity, the consequences will be very serious, he said. China’s steel industry will focus on structural adjustment instead of total volume, the CISA official added. He suggested that China should not only pay attention to whether there is excessive steel capacity, but should also pay attention to whether there is enough green steel capacity. 

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