Baowu Group and Anshan steel report capacity reduction progress
2017-09-04 08:17:38 [Print]
Recently, China Baowu Group Corporation Limited ("Baowu Group") and Anshan Steel Group Corporation Limited ("Ansteel") have separately issued notices to report their progress in overcapacity reduction.
According to the notice, Bowu Group will adjust the list of companies and equipment involved in the capacity reduction, but will maintain the target of cutting 5.45 million tonnes of overcapacity in 2017 unchanged.
The specific goals for 2017 after the adjustment are as follows:
To seal up Xinjiang Bayi Steel Co., Ltd. (Baicheng Steel)'s two blast furnaces of 1,800 cubic meters and two converters of 120tpy, which are out of production at present.
To dismantle Xinjiang Bayi Steel Co., Ltd. (headquarters)'s one electric furnace of 110tpy, which is out of operation currently.
To seal up Shanghai Stainless Steel Co., Ltd. (Changjiang Xilu Steel)'s one converter of 120tpy, which is out of operation.
According to the notice, Ansteel has made the following progress in reducing overcapacity in 2017:
Ansteel sealed up its subordinate company Pansteel Group Chengdu Steel & Vanadium Co., Ltd.'s one electric furnace of 70tpy on April 18th and shut down the related ancillary production lines, cutting 500,000tpy of crude steel production capacity and completing the capacity reduction task.
Both the two companies promised that they won't restart the sealed or dismantled equipment and production lines.
According to the notice, Bowu Group will adjust the list of companies and equipment involved in the capacity reduction, but will maintain the target of cutting 5.45 million tonnes of overcapacity in 2017 unchanged.
The specific goals for 2017 after the adjustment are as follows:
To seal up Xinjiang Bayi Steel Co., Ltd. (Baicheng Steel)'s two blast furnaces of 1,800 cubic meters and two converters of 120tpy, which are out of production at present.
To dismantle Xinjiang Bayi Steel Co., Ltd. (headquarters)'s one electric furnace of 110tpy, which is out of operation currently.
To seal up Shanghai Stainless Steel Co., Ltd. (Changjiang Xilu Steel)'s one converter of 120tpy, which is out of operation.
According to the notice, Ansteel has made the following progress in reducing overcapacity in 2017:
Ansteel sealed up its subordinate company Pansteel Group Chengdu Steel & Vanadium Co., Ltd.'s one electric furnace of 70tpy on April 18th and shut down the related ancillary production lines, cutting 500,000tpy of crude steel production capacity and completing the capacity reduction task.
Both the two companies promised that they won't restart the sealed or dismantled equipment and production lines.
