Search

The article focuses on the plan of China to eliminate excess capacity in the steel sector and decrease its role as a top global steelmaker as of 2009. According to Ministry of Industry and Information Technology raw-materials department inspector Jia Yinsong, the government is expected to close plants with 16 million metric tons of annual capacity. The ministry cited that the country has plants under construction with a capacity of about 58 million tons every year. It notes the reluctance of China to take broader steps that would affect the economy.