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PrintChina Daily reported that small steel mills with steel blast furnaces less than 400 cubic meters in size are being told by the central government to shut down production by the end of next year.
The State Council, China's cabinet, published a document on Tuesday, saying all steel blast furnaces in this size class will be closed to rein in overcapacity and force upgrades in the industry.
Mr Du Wei an analyst with industry consultancy firm Umetals.com said “These small steel mills are mostly located in Shandong and Shanxi province. It is hard to calculate how many of these steelmakers there are, but the new move will help rein in overcapacity in the steel industry.”
China will also close down outdated production capacity in other sectors including power, coal, coking coal, ferroalloy, calcium carbide and nonferrous metals to save energy and reduce emissions.
Sourced from China Daily
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