China to cut overcapacity in steel sector in 2018

China will cut steel capacity by 50 mn tonnes and coal output by more than 150 mn tonnes this year

China will continue to cut excess capacity in the steel sector in 2018, National Development and Reform Commission (NDRC) Vice Chairman Ning Jizhe said at a news conference on Monday.

China will cut steel capacity by 50 million tonnes and coal output by more than 150 million tonnes this year, according to a state planner work report at the opening of the annual meeting of parliament.