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China to ban new steel project expansions in 2019

Steel News - Published on Fri, 11 Jan 2019

Image Source: Investing.com
Reuters reported that Miao Wei, minister of industry and information technology told the official Xinhua agency in an interview that China will strictly prohibit the expansion of new iron and steel projects in 2019. He also said “The capacity expansion ban would also apply to the cement and flat-glass industries, which were already subject to restrictions in 2018, while newly added primary aluminium capacity would continue to be strictly controlled.”

The State Council, China's cabinet, said in June it would ban new capacity for steel, coke and primary aluminium in some key areas, including the Beijing-Tianjin-Hebei and Yangtze River Delta regions, but Miao did not say on Thursday if the ban he mentioned would have limited geographical scope.

China will support key regions in cutting steel capacity further this year, he said, pledging deeper supply-side reform in industrial sectors.

Source :

Posted By : Ratan Singh on Fri, 11 Jan 2019
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