Hebei to cut steel capacity by 40 mil mt/year within 3 years

摘要

China's largest steelmaking province, Hebei, plans to eliminate 40 million mt/year of crude steel capacity within three years, according to local media reports Thursday. This target was doubled from the province's previous plan of shuttering about 20 million mt/year steel capacity during 2018-2020. Hebei aimed to cut 12 million mt/year of steel capacity by the end of November. After that, the province will cut 14 million mt/year of capacity respectively in 2019 and 2020.