July 25, 2008

Shandong to eliminate steel obsolete capacity

According to Shandong Economy and Trade Commission that last year, Shandong province closed and eliminated iron making capacity of 2.48 million tonnes, 3.706 million tonnes of steel making capacity, achieving the obsolete steel capacity elimination target stipulated by the country.

According to responsibility letter about suspension and elimination backward steel production capacity which is signed by NDRC and Shandong Province Government, Shandong closed and eliminated obsolete steel production capacity of the first batch of 17 enterprises, with the total iron making production of 4.90 million tonnes and 7.91 million tonnes of steel making capacity.

It is realized that Shandong province will continue to eliminate 6% of steel making capacity and 15% iron making capacity.