Yunnan advances steel overcapacity cut in 2018

SHANGHAI, Sep 4 (SMM) – A steel-making electric furnace of 50 mt will be dismantled this month at Qujing Julida Iron & Steel in Yunnan province, as the province moves to address overcapacity in the steel industry in 2018.

At the start of September, the Yunnan municipal authorities released the 2018 workplan to eliminate overcapacity in the steel sector. Other targets in the plan include reducing crude steel capacity by 270,000 mt by the end of September, and stepping up market regulations to eliminate substandard capacity, SMM learned.