China's Hebei province will slash 11.48 million tonnes in outdated steelmaking capacity to accommodate the expansion of a new plant, part of efforts by the country's top steel-producing region to rein in surplus production. China, the world's biggest steel producer, has been shutting outdated steel plants but also keeping any expansion under control to help tackle a years-long glut. Authorities closed more than 600 steel mills producing low-grade construction steel during the first half of the year, cutting capacity by about 120 million tonnes, the state-owned China ...
China's Hebei province to replace 11.48 MT old steel capacity with new one
Last month, China said it has reduced its total steel production capacity by 42.4 million tonnes