On July 25, Feng Fei, deputy minister at China’s Ministry of Industry and Information Technology (MIIT), announced that in the first half of the current year steel capacity cuts in China exceeded 13 million mt, equivalent to about 30 percent of the annual target.
“As a whole, in the first half this year China’s emphasis was mainly on the organization of tasks in relation to steel capacity cuts, while in the second half this year it will increase its efforts and forge ahead with the capacity cuts by distributing specific tasks to governments at all levels and to domestic steel enterprises to eliminate outdated capacity and strictly control newly constructed capacity,” Mr. Feng stated. He added that he was confident China would achieve its annual target during the second half this year.