Shandong to cut 2.8 Mtpa steel capacity in 2017

2017-02-16 13:03:00 Policy

Eastern China's Shandong plans to cut 2.8 Mtpa of crude steel production capacity in 2017, the provincial Development and Reform Commission said lately.

All the capacity will be eliminated from Jinan Iron & Steel Group, a listed arm of Shandong Iron & Steel Group. Jinan Iron & Steel will stop steel production in Jinan by end-2017.

Meanwhile, the province aims to slash 3.87 Mtpa of pig iron capacity this year, including 2.67 Mtpa from Jinan Iron & Steel Group.

Separately, Shandong targets to cut 3.51 Mtpa of coal capacity by closing 5 coal mines this year.

(Writing by Hao Wu   Editing by Harry Huo)
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