NDRC: 2018 steel capacity cut completed over 80%
2018-08-30 15:38:39 [Print]
It was learned from National Development and Reform Commission that as of mid-August, China has completed crude steel production capacity cut by 24.7 million tons, accounting for 80% of the goal of 30 million tons in 2018.
A source from NDRC said that through a series of effective measures to purify the market environment, after the elimination of backward and inefficient capacity, the operation of the steel industry improved significantly and continued to improve in the first half of this year. The overall situation of supply and demand in the whole industry tends to be reasonable. At the same time, the utilization rate of crude steel capacity has also rebounded sharply, basically returning to a reasonable range.
It is reported that during the "13th Five-Year Plan" period, China plans to reduce the crude steel capacity of 100-150 million tons. With the joint efforts of all parties, in 2016, China reduced the capacity of crude steel by more than 65 million tons. In 2017, China reduced the crude steel capacity by more than 55 million tons. In two years, the capacity has been cut by more than 120 million tons, accounting for 80% of the target.
A source from NDRC said that through a series of effective measures to purify the market environment, after the elimination of backward and inefficient capacity, the operation of the steel industry improved significantly and continued to improve in the first half of this year. The overall situation of supply and demand in the whole industry tends to be reasonable. At the same time, the utilization rate of crude steel capacity has also rebounded sharply, basically returning to a reasonable range.
It is reported that during the "13th Five-Year Plan" period, China plans to reduce the crude steel capacity of 100-150 million tons. With the joint efforts of all parties, in 2016, China reduced the capacity of crude steel by more than 65 million tons. In 2017, China reduced the crude steel capacity by more than 55 million tons. In two years, the capacity has been cut by more than 120 million tons, accounting for 80% of the target.
