China Releases Progress of Steel Capacity Elimination in 2016

Shanghai, Dec. 22 (SMM) - SMM compiles data about eliminating excessive steel capacities so far released by provinces in China. According to the data,

China so far has phased out approximately 44.559 million mt of pig iron capacities and 88.788 million mt of crude steel capacities. Of those, capacity elimination at intermediate frequency furnaces accounted for 18.5%.

So far, China has far exceeded its steel elimination target of 45 million mt set in early 2016, 197.3% higher than the target level. 

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