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China Iron and Steel Industry Association: Steel Industry Profits Rise in Five Years

  On January 11, 2020, the Sixth Member Conference of the China Iron and Steel Industry Association (hereinafter referred to as "China Steel Association") was held in Beijing.

  Gao Xiangming, the chairman of the China Iron and Steel Association in 2019 and chairman of TISCO Group, said at the meeting that from 2015 to 2019, steel production maintained a sustained high growth, total steel exports fell, the structure was optimized, steel prices rebounded and stabilized, the industry Profits have picked up and the asset-liability ratio has fallen.

  The newly elected Chairman of the China Iron and Steel Association in 2020 and Chairman of Shagang Group Corporation Shen Bin pointed out that in 2020, the steel industry must work together to promote the industry's more stable operation. On the product side, it is necessary to strictly control the excessive increase of production capacity to prevent new surpluses; on the raw material side, to ensure the healthy and stable operation of the iron ore market, to form a joint force to resist monopoly, hype and improve transaction transparency, and to further accelerate the trade mechanism perfect.

  The Past Five Years: Significant Reduction In Production Capacity  

       At the meeting, Gao Xiangming summarized the achievements made by the steel industry in the past five years, mainly including six aspects:

  1.The success of de-capacity was achieved, and the industry maintained continuous and stable operation.

  Gao Xiangming said that in 2015, China ‘s crude steel production capacity reached 1.128 billion tons, while crude steel output was only 804 million tons, and the capacity utilization rate was 71.3%. From 2016 to 2018, it took only three years to successfully reduce the production capacity of crude steel by more than 150 million tons, and to exceed the upper limit of capacity reduction proposed by the State Council two years in advance; to completely ban "strip steel" according to law.

  2.The second achievement is to promote ultra-low emission transformation, and the level of green development of the industry has been greatly improved.

  Gao Xiangming said that in recent years, under the pressure of the world's most stringent environmental protection standards, the majority of iron and steel enterprises have actively carried out multi-pollutants from flue gas around five key processes including coking, sintering (pellet), ironmaking, steelmaking, and rolling Research on ultra-low emission technology and high-temperature flue gas circulating purification technology. Shougang, Baowu, Angang, Hegang, TISCO, Delong, Zhongtian and other iron and steel companies have vigorously promoted ultra-low emission transformation and took the lead in achieving breakthroughs. . At the same time, equipment upgrades have been implemented through reductions and replacements. A number of energy-saving and environmental protection technologies and indicators have reached world advanced levels.

  3.A breakthrough was made in mergers and reorganizations, and the industrial organization structure was further optimized.

  4.The steel industry has vigorously promoted technological innovation, and the comprehensive competitiveness of the industry has increased.

  5."Going Global" has blossomed, and the international level has been improved.

  6.High-quality development of industry human resources. (source from

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