Technical renovation investment by Hebei steel industry up 51.5% in Q1

Wednesday, 29 May 2019 16:25:12 (GMT+3)   |   Shanghai

Technical renovation investment completed by the steel industry in China’s Hebei Province in the first quarter this year indicated a year-on-year rise of 51.5 percent.

Wang Dayong, vice president of the Hebei Metallurgical Industry Association, stated that the main technical renovation investment by the steel industry in Hebei Province was made in capacity replacement and ultra-low emission reconstruction.

At the same time, Mr. Wang said that production of high value-added products by the steel industry in Hebei Province increased rapidly in the first quarter this year. In particular, in the first quarter, outputs of heavy rails, heavy section steel and coated steel plate rose by 69.6 percent, 1.1-fold and 24.6 percent year on year, respectively. Meanwhile, in the given period, Hebei Province exported 1.7348 million mt of finished steel, increasing by 34.16 percent year on year.

At the same time, Wang Dongfeng, Communist Party secretary of Hebei Province, stated on May 28 that Hebei Province will eliminate 14.0 million mt of excess capacity in 2019 and again in 2020, and keep its crude steel production capacity within 200 million mt in 2020.

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