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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

Reuters  |  Beijing 

China's Hebei province will slash 11.48 million tonnes in outdated steelmaking capacity to accommodate the expansion of a new plant, part of efforts by the country's top steel-producing region to rein in surplus production. China, the world's biggest steel producer, has been shutting outdated steel plants but also keeping any expansion under control to help tackle a years-long glut.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 ...

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First Published: Tue, July 04 2017. 19:38 IST