Chinese rebar producers make the most of IF closures

摘要

China has closed about 120 million mt/year worth of induction furnacecapacity across more than 600 companies nationwide, the XinhuaNews Agency reported Friday, citing officials at the NationalDevelopment and Reform Commission and the Ministry of Industry. InApril, the China Iron & Steel Association reported that over 500induction furnace steel producers had been identified nationwide, witha combined capacity of 119 million mt/year.