China’s largest steel producing province wants to shift its excess capacity abroad to ease the pressure from the closure of steel mills as Beijing clamps down on excess production.
According to Caixin, the province wants to relocate 20 million tonnes of steel, 30 million tonnes of cement and 10 million tonnes of pleated glass production abroad by 2023.
Hebei will bear the brunt of Beijing’s plan to cut back on excess production. The province will have to cut 60 million tonnes-worth of steel production out of the planned 80 million tonne target within five years.
The move is likely to impact 400,000 workers as well as cost 37 billion yuan in tax revenue.
Source: Business Inspector
- metaljunction »
- Metal News
Metal News & Events
METALJUNCTION PUBLICATIONS
Coal Insights (English) Monthly
![Steel Insights](/assets/images/news/coal-insights.jpg)
Coal Insights is a ready reckoner for anyone associated with coal. This publication is aimed at tracking everything related to coal in India.
India Coal Market Watch(English) Monthly
![Steel Insights](/assets/images/news/ICMW_Jan09.gif)
ICMW is a one-stop source for all news, data and research pertaining to coal demand, consumption, stocks, spot- and long-term prices with respect to the Indian Market.
India Steel Market Watch (English) Monthly
![Steel Insights](/assets/images/news/ISMW.gif)
ISMW is a brand new high-end steel market report, covering all aspects of the steel industry in India.
Steel Insights(English) Monthly
![Steel Insights](/assets/images/news/SteelInsights.jpg)
Steel Insights delves into various facets of the domestic and global steel industry such as market fundamentals, raw material price trends, price forecasts etc.