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.
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“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.
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China also made breakthroughs in cutting back aluminum, cement and sheet glass overcapacity.
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