MIIT, CISA in talks to push steel overcapacity cuts

Jan 18, 2019 11:17

Source:SMM

They also discussed innovation in the sector and improving coordination between upstream and downstream participants

SHANGHAI, Jan 18 (SMM) – Officials from the raw materials department of China’s Ministry of Industry and Information Technology (MIIT) met with the China Iron and Steel Association (CISA) on Thursday January 17, to discuss strengthening overcapacity cuts in iron and steel sector, MIIT said on its website on Friday January 18.

The two parties also discussed innovation and improving coordination across the upstream and downstream industrial chains.

China has made progress in eliminating excess steel capacity in 2018, driven by domestic supply-side structural reform, according to CISA.

Overcapacity cuts in the iron and steel sectors exceeded annual targets of 30 million for 2018.

Market commentary

Steel overcaapcity

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MIIT, CISA in talks to push steel overcapacity cuts

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