China to cut lead, zinc, ferroalloy capacity

Jul 10, 2012 | 04:24 PM |

Tags  China, lead, zinc, ferroalloys, shutdowns, Mo Guogang, China Investment Futures, Shanghai Metals Market Chinese Ministry of Industry and Information Technology

SHANGHAI, China — China has vowed to shut down 1.11 million tonnes of lead capacity and 286,200 tonnes of zinc capacity this year.

The country’s Ministry of Industry and Information Technology (MIIT) also announced plans to phase out 2.91 million tonnes of outdated ferroalloys capacity.

China has a total lead capacity of around 5 million tonnes per year, a zinc capacity of 6.6 million tonnes per year and a ferroalloys capacity of 38 million to 40 million tonnes per year.

Of the 18 zinc smelters on MIIT’s list of targeted facilities, 10 are in Hunan province, which have been asked to close 116,600 tonnes of annual capacity—nearly 41 percent of the total planned shutdowns. Last year, the government planned to close 32 zinc smelters amounting to 338,000 tonnes of capacity.....

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