SMM: Xia Nong, a first-class inspector of the Industrial Development Department of the National Development and Reform Commission, revealed at the 2020 China Iron and Steel Development Forum that from cracking down on strip steel to the removal of zombie enterprises, a number of invalid and inefficient production capacity gradually withdrew from the market, and the capacity utilization rate of the iron and steel industry gradually returned to a reasonable range. However, a number of experts said that the pressure to prevent steel overcapacity will exist for a long time. In the next step, the iron and steel industry will continue to strictly prohibit the expansion of steel production capacity and reduce the proportion of capacity replacement, promote major strategic mergers and restructuring, and start a new round of "capacity removal" from quantitative change to qualitative change.
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