Hebei Province-based Chinese steelmaker Hebei Iron and Steel Group Co. (Hebei Steel Group) has achieved its capacity reduction targets for 2016, with the shutdown of a 450 m3 blast furnace at its subsidiary Tanggang Tangyin Iron and Steel Co., Ltd (Tanggang Tangyin), as announced by China's Xinhua News Agency.
In particular, Hebei Steel Group has cut 1.56 million mt of iron-making capacity and 1.66 million mt of steelmaking capacity to date in the current year, reaching its capacity reduction targets of 1.56 million mt of iron-making capacity and 830,000 mt of steel capacity for the year.