SHANGHAI, Apr. 28 (SMM) - Bazhou Xinli Iron & Steel announced Apr. 27 that the company had closed all steel capacities from 17:00 on Apr. 26, in response to Chinese government’s steel overcapacity elimination policies.
Before the full closure, Bazhou Xinli Iron & Steel kept running at two 1,080 m3 blast furnaces, after shutting down 450 m3 blast furnaces, which affected capacities by about 2.10 million tonnes.
Hebei’s Provincial Government has announced that Zhangjiakou, Baoding and Langfang will become cities without steel mills, and all steel mills in the three cities will be closed before 2020.
According to official information, all steel capacities in Baoding will exit the market in 2017, and in Langfang, local government will clear one steel mill, and try to persuade another one to exit in 2017. By the end of 2019, all steel capacities in Zhangjiakou and Langfang will withdraw the market.
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