MIIT: China's capacity transfer in iron and steel industry goes well

In order to further promote transformation and upgrading to iron and steel industry, against the backdrop of strictly forbidding newly-added capacity, China promotes the reduction of excess capacity and restructuring through capacity transfer.Asian Metal CopyrightIn order to further promote transformation and upgrading to iron and steel industry, against the backdrop of strictly forbidding newly-added capacity, China promotes the reduction of excess capacity and restructuring through capacity transfer.Asian Metal Copyright According to information from the Ministry of Industry and Information Technology (MIIT), China's capacity transfer in iron and steel industry goes well and capacity transfer projects cover 21 provinces, autonomous regions and municipalities.

According to latest statistics from MIIT, by the end of June 2019, there were 21 provinces (autonomous regions and municipalities) in China that released announcements for iron and steel capacity transfer projects, totaling 140 in number and including 200 million tons of newly-built iron-making capacity, 218 million tons of newly-built steel-making capacity, 228 million tons of canceled iron-making capacity and 246 million tons of canceled steel-making capacity.

Qin Song, the vice director of China Iron and Steel Industry Association Development and Technology and Environmental Protection Department, revealed that based on the announcement of capacity transfer schemes, (by the end of June 2019) Hebei was the top in transferred capacity, following by Yunnan, Guangxi, Shandong, Shanxi, Fujian, Sichuan and Jiangsu.

It is said that Hebei, Jiangsu, Fujian, Shandong and other areas will integrate capacities of small and medium sized enterprises by purchasing iron and steel capacity to promote the improvement of concentrate in iron and steel industry.
.Asian Metal Copyright According to information from the Ministry of Industry and Information Technology MIIT, China's capacity transfer in iron and steel industry goes well and capacity transfer projects cover 21 provinces, autonomous regions and municipalities.Asian Metal Copyright