SHANGHAI, Jul. 25 (SMM) - China has completed 84.8% of annual steel capacity cuts target in the first five months of 2017, said Zhang Feng, news spokesman of the Ministry of Industry & Information Technology (MIIT).
The mission of “Ditiao steel” capacity elimination had been accomplished by the end of June.
“Ditiao steel” is 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.
China also made breakthroughs in cutting back aluminum, cement and sheet glass overcapacity.
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