China is going to gradually reduce the production of low-quality steel. The country hopes to rein in emerging manufacturing capacity, scrutinize new projects, push for more mergers, and tighten controls over the iron and steel sector as a whole.
China launched a nationwide program to crush modernization resistance and capacity cuts in December 2016, affecting about 4 percent of the country's steel production. In a high-profile case, the central authorities singled out two producers for thwarting reductions in excess capacity in the metals sector.
The country has also imposed a higher electricity price for such producers starting January 1, 2017. China plans to cut crude steel production by 100-150 million tonnes by 2020, meeting its 2016 target of 45 million tonnes ahead of schedule.
China will reject substandard steel production
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Azovpromstal® 13 January 2017 г. 10:26 |
