Jiangsu targeting 7M tonnes in steel capacity cuts by ‘18

Dec 31, 2013 | 08:42 AM |

Tags  steel, steel capacity, capacity cuts, Jiangsu province capacity, Jiangsu Shagang Group, Zhongtian Steel Group, Jiangsu Yonggang Group

SHANGHAI — China’s Jiangsu province has unveiled a plan to cut 7 million tonnes of steelmaking capacity between 2014 and 2018.

The steel sector was among four industries that the eastern coastal province’s government singled out Dec. 29 as facing overcapacity.

This follows a similar move by Hebei province, China’s steel production hub, which recently announced a plan to cut 15 million tonnes of capacity in 2014.....

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