State Council: China to Accelerate Capacity Cuts in Aluminum and Other Sectors and Strictly Control New Ones

Published: Aug 24, 2017 17:09

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Efforts have been required to promote industry transformation and upgrading and de-leveraging at one State Council’s executive meeting on Aug. 23, chaired by Premier Li Keqiang.

SHANGHAI, Aug. 24 (SMM) – Efforts have been required to promote industry transformation and upgrading and de-leveraging at one State Council’s executive meeting on Aug. 23, chaired by Premier Li Keqiang.

The meeting called for taking effective measures to complete overcapacity elimination targets in steel and coal sectors, and deal with issues, including “Zombie enterprises” and impoverished enterprises. Meanwhile, work on capacity cuts in thermal power, aluminum and other sectors should be also enhanced, and newly-added capacities should be strictly monitored.

SHFE Takes Restriction Measures on HC1710 and HC1801 Contracts

Following the news, SHFE aluminum surged by over 2 per cent on Wednesday’s night trading.

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