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