MIIT: China to reduce number of domestic steelmakers to 200

Wednesday, 21 July 2010 17:47:47 (GMT+2)

Chen Haiyan, Minister of the Raw Material and Industrial Department of China's Ministry of Industry and Information Technology (MIIT), has stated that, following the publication by China's State Council of a file entitled ‘Advice to further promote energy saving and emission reduction as well as steel industry structure adjustment', the MIIT has accordingly published a file called ‘Regulation on steel industry production' and that this file is already being implemented. The regulation in question is set to resolve the problem of very rapid capacity increases and inadequate management in China's steel industry.

The MIIT official stated the MIIT will regulate steel industry production according to the regulation and will further reduce the number of steelmakers in China. After restructuring, the current 800 steelmakers in the country will be reduced to around 200. To control investment increases, steelmakers' output capacities will be restricted. In addition, iron ore will be distributed appropriately in line with steel production capacity.

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