China achieves over 80% of crude steel cut target in Jan-Jul

SHANGHAI, Aug 17 (SMM) – China achieved over 80% of its annual capacity cut target on crude steel, by eliminating crude steel overcapacity of 24.7 million mt during the first seven months of the year. This was according to an official of the National Development and Reform Commission during its supply-side reform press conference on August 16.

From January to July, China reduced coal capacity by 80 million mt, more than half of its 2018 target of 150 million mt of cuts, the official said.