CHINA May 11 2017 3:05 PM
BEIJING (Scrap Register): Outdated and obsolete refined aluminum capacity and steel capacity of 32000 mt/year and 10.96 million mt/year respectively was shut down by China, as per the Ministry of Industry and Information Technology.
China also shut down 6.77 million mt/year and 5.59 million mt/year capacity of Iron and cement respectively. Also 300000 capacity of more than 1500 small coal mines were shut down.
It is believed that China made this decision in order to make improvement in the supply side. The government said, they have to boost quality and efficiency by supplying energy to develop advanced output capacity.
One of the main reason for eliminating the outdated capacity was the problems, mainly weakening ecosystem, environment pollution caused by outdated output capacity.