China draws up targets for elimination of dated steel capacities

Wednesday, 24 March 2010 17:10:08 (GMT+2)

China's Ministry of Industry and Information has promulgated targets for the elimination of dated production capacities in the domestic steel industry. Accordingly, by the end of 2010, blast furnaces with capacities up to 300 cubic meters and converters and electric furnaces with capacities of 20 mt or below are to be eliminated. In addition, by the end of 2011, blast furnaces with capacities up to 400 cubic meters and converters and electric furnaces with capacities of 30 mt or below are to be eliminated. As a result, the total eliminated rolling capacity will amount to 100 million mt during the 2010-2011 period.

The ministry will issue an official notice to each provincial government about the task in question. According to the ministry, the state authorities will also have to provide appropriate leadership for the steel enterprises in accomplishing the targets.

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