The Shandong Economic and Information Technology Committee has approved the backward production capacity elimination plan for the steel industry in China's Shandong Province, according to Chinese state-run Xinhua News Agency.
Under the plan, backward production capacities eliminated by Shandong Province by 2015 will total 21.11 million mt for pig iron and 22.57 million mt for crude steel. Between 2012 and 2015, the province will eliminate blast furnaces below 1,000 cubic meters and converters below 80 mt. Accordingly, by 2015 the finished steel output capacities of Shandong-based steelmakers Jinan Steel and Laiwu Steel will decrease to 5.60 million mt and 6 million mt respectively, from their current finished steel output capacities of 10 million mt.