-
Advertorial
-
FOCUS
-
Guide
-
Lifestyle
-
Tech and Vogue
-
TechandScience
-
CHTF Special
-
Nanhan
-
Futian Today
-
Hit Bravo
-
Special Report
-
Junior Journalist Program
-
World Economy
-
Opinion
-
Diversions
-
Hotels
-
Movies
-
People
-
Person of the week
-
Weekend
-
Photo Highlights
-
Currency Focus
-
Kaleidoscope
-
Tech and Science
-
News Picks
-
Yes Teens
-
Fun
-
Budding Writers
-
Campus
-
Glamour
-
News
-
Digital Paper
-
Food drink
-
Majors_Forum
-
Speak Shenzhen
-
Business_Markets
-
Shopping
-
Travel
-
Restaurants
-
Hotels
-
Investment
-
Yearend Review
-
In depth
-
Leisure Highlights
-
Sports
-
World
-
QINGDAO TODAY
-
Entertainment
-
Business
-
Markets
-
Culture
-
China
-
Shenzhen
-
Important news
在线翻译:
szdaily -> Business_Markets
Stricter rules issued on building new steel capacity
    2018-January-10  08:53    Shenzhen Daily

THE government has issued stricter rules on building new steel production capacity to replace obsolete facilities, the Ministry of Industry and Information Technology said late Monday.

The move has underscored China’s determination to ban growth in its massive steel sector and turned steel prices to positive from negative as investors expected China’s steel capacity will continue falling this year.

China, the world’s top steel producer, will allow one ton of new capacity to be built for a minimum of 1.25 tons of old capacity closed in environmentally sensitive regions, effective this year, the ministry said in a statement.

The statement, long-awaited by market players, offered clearer details on closing capacities to build new plants, based on the size of blast furnace, converters and other facilities to be shut down.

The strict standard on capacity swaps has eased market worries that China will not loosen its restrictions on building new projects, a manager with a trading firm in Hangzhou said, declining to be named.

The new rules are a sign China will continue to deepen its efforts to push supply-side reform and reduce overcapacity in the sector. China is aiming to cut steel capacity by 100 million to 150 million tons over the 2016-2020 period, the State Council said in early 2016 as part of a five-year plan.

Top steelmaking provinces Hebei and Jiangsu are among the environmentally sensitive regions named in the document.

Steelmakers that plan to build new capacities will have to shut a certain number of existing ones first, according to the statement. Mills that have closed illegal capacities or obtained financial and policy assistance to help shut plants will not be allowed to build new ones.(SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn