SHANGHAI, Apr 11 (SMM)－Shutdowns at Maanshan Iron & Steel Group will affect about 1 million mt of iron production capacity.
As part of the Anhui provincial government's plan to restructure supply, Maanshan will permanently shut two 500 m³ blast furnaces by the end of April. The government plans to cut 3.84 million mt of pig iron and 5.06 million mt of crude steel capacities within its region, by 2020.
Output of molten iron at Maanshan is expected to be cut by 78,000 mt while output of steel will decline 80,000 mt in May. Of the 80,000 mt, cuts in the production of industrial wires will account for 2,000 mt, H-beams will account for 18,000 mt and wire rods will account for the remaining 60,000 mt.
In the last two years, Maanshan has already shut 1.24 million mt of iron production capacity and 1.41 million mt of steel production capacity. This was part of the company's initiative to reduce excess capacities and pursue environmentally friendly production methods.
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