Private steel companies in China are playing a large role in reducing production capacity in the industry, according to the sector's chamber of commerce.
In 2017, China cut steel production by more than 50 million tonnes, while private steel companies provided 40 million tonnes of cuts - 80 percent.
In 2016, 65 million tons were cut, from private companies - 38.8 million tons, or 60 percent.
According to the Ministry of Industry and Information Technology, the steel price index stood at 121.8 at the end of December 2017, up 22.4 percent from the beginning of the year.
China plans to eliminate 100 million to 150 million tons of steel production capacity by 2020.
Liquidation of China's steel production falls on private producers
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