120 million tons of substandard steel products capacity prohibited
2017-07-07 17:42:45 [Print]
In the first half of 2017, the substandard steel products have basically disappeared suppressed by a serious tough policies issued by Chinese government. According to statistics, over 600 companies that produced substandard steel products have been shut down with 120 million tons of capacity prohibited up to June 30th.
The Adjustment and Upgrade Plan for Steel industry (2016-2020) (“the Plan”) issued by MIIT last year suggested that 100-150 million tons of crude steel capacity be eliminated by 2020 with the rate of capacity utilization up by 10 percentage points; besides, the industrial concentration of top 10 enterprises shall be lifted by over 25 percentage points to 60%. In addition, the Plan also presents the specific steps concerning the adjustment and upgrade. The first step is to eliminate capacity and then secondly to increase the rate of capacity utilization and finally to make integration.
According to data from China’s National Development and Reform Commission (NDRC) on June 15th, capacity of 42.39 million tons of crude steel has been cut down, representing 84.8% of the annual objective completed.
The Adjustment and Upgrade Plan for Steel industry (2016-2020) (“the Plan”) issued by MIIT last year suggested that 100-150 million tons of crude steel capacity be eliminated by 2020 with the rate of capacity utilization up by 10 percentage points; besides, the industrial concentration of top 10 enterprises shall be lifted by over 25 percentage points to 60%. In addition, the Plan also presents the specific steps concerning the adjustment and upgrade. The first step is to eliminate capacity and then secondly to increase the rate of capacity utilization and finally to make integration.
According to data from China’s National Development and Reform Commission (NDRC) on June 15th, capacity of 42.39 million tons of crude steel has been cut down, representing 84.8% of the annual objective completed.
