American Metal Market said that last year China closed nearly 17 million tonnes worth of outdated steel production capacity, nearly three times more than forecast. China also shut down more than 21 million tonnes worth of outdated iron making capacity in 2009, more than twice the predicted figure. However, the country’s steel capacity continues to grow. Last year China added a further 58 million tonnes of steel capacity, and a further 32 million tonnes are expected to come on stream this year.
