The Industry and Information Technology Commission of China's Guangxi Province has issued the capacity replacement details relating to two 630 cubic meters furnaces due to be built by Guangxi Zhuang Autonomous Region-based Chinese steelmaker Liuzhou Steel Group and the planned elimination of one blast furnace of 1,080 cubic meters and two blast furnaces of 530 cubic meters each. Accordingly, the two new furnaces will have a combined annual steelmaking capacity of 1.46 million mt, with construction starting in the current month of July and due to be completed in July 2019, replacing the blast furnaces of Tangshan Xinglong Iron and Steel Group which had a combined annual steelmaking capacity of 1.5 million mt. The eliminated capacity was purchased by Liuzhou Steel Group at a price of RMB 290 million ($42.6 million).