BEIJING, Feb. 16 (Platts) -- China aims to eliminate inefficient steel-making capacity totaling 48 million mt/year, iron-making capacity totaling 48 million mt/year and coking capacity totaling 42 million mt/year over 2011-2015, the Ministry of Industry and Information Technology said Tuesday.
The country had already shut steel-making capacity totaling 27.94 million mt/year, iron-making capacity totaling 31.22 million mt/year and coking capacity totaling 19.75 million mt/year by the end of 2011, the ministry said in a statement.
In the previous 2005-2010 period, China shut down 69 million mt/year of steel-making and 120 million mt/year iron-making capacity, the ministry said.
China targets its ten largest steelmakers accounting for 60% of national steel output in 2015, up from 48.6% in 2010.
In a 2011-2015 development plan released in November 2011, the ministry vowed to eliminate all blast furnaces with a capacity of less than 400 cubic meters and all foundry blast furnaces smaller than 200 cu m. Converters and electric arc furnaces smaller than 30 mt and alloy electric arc furnaces smaller than 10 mt were also targeted for closure.