Posted on 21 Jul 2014
According to the “Implementation Plan for Resolving Severe
Steel Overcapacity in Guangdong Province (Exposure Draft)” released by
Guangdong Province, it pledges to slash 4.5 million tonnes of steel capacity,
3.23 million tonnes of cement capacity by 2017.
Currently, Guandong plans to eliminate 4.5 million tonnes of
steel capacity by environmentally removing Guangzhou Steel on the basis of
12.944 million tonnes of eliminated steel capacity. Meanwhile, Baosteel also
decided to conduct Industrial adjustment in Shanghai by eliminating 6.5 million
tonnes of steel capacities to control the steel capacity around 40 million
tonnes in the whole clty.
