SHANGHAI, May 18 (SMM) – So far, China has completed a 63.4 per cent of inefficient steel elimination target for 2017 so far, Meng Wei said, Deputy Director and Spokesperson of Policy Studies Office of National Development & Reform Commission (NDRC), according to stcn.com.
On May 18, Meng said China had phased out 31.70 million tonnes of steel capacities, a 63.4 per cent of the 2017 cut target, and eliminated 68.97 million tonnes of coal capacities, a 46 per cent of the target.
The eliminated steel capacities mentioned above do not include “Ditiao steel”, a Chinese name for low-quality steel produced in intermediate frequency furnace with steel scrap as raw material, as well as rolled steel products produced with such steel as raw material.
Early this year, Chinese government announced to remove all “Ditiao steel” before June 30 2017.
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