China successfully cut 5.95 million tons of overcapcity of steel
2017-07-13 18:00:50 [Print]
Based on media report, Ching has succeeded in tackling the problem of steel overcapacity. It is said that 5.95 million tons of steel production has been removed during the first half year which significantly accomplishes the target ahead of schedule for 2017.
It’s also sending a signal to the rest of world that Chinese government’s commitment to boosting industrial upgrade and promoting industries’ competitiveness. Many unqualified and inefficient steel mills have been forced to shut down,
As a result, Chinese steel exports in the first quarter of 2017 slumped 25% to 20.73 million tons compared with the same period of last year, due to "international trade protection" and high domestic prices.
It’s also sending a signal to the rest of world that Chinese government’s commitment to boosting industrial upgrade and promoting industries’ competitiveness. Many unqualified and inefficient steel mills have been forced to shut down,
As a result, Chinese steel exports in the first quarter of 2017 slumped 25% to 20.73 million tons compared with the same period of last year, due to "international trade protection" and high domestic prices.
