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CISA confident on plan to cut steel capacity in China

Add Time:2016-04-15 19:38:00 Clicks:
Global Times reported that a senior official at the China Iron and Steel Industry Association said that he is confident about the effectiveness of the government's campaign to cut overcapacity in the steel sector. Mr Wang Liqun, vice chairman at the CISA, said at an industry expo that the central government is giving unprecedented attention to the issue of overcapacity and there will be results

Mr Liu Xinwei, a steel industry analyst with Shandong Province-based consultancy Sublime China Information, told the Global TimesThursday that weight of such a statement depends on implementation, regardless of the government's pledges. He told “It depends on to what extent the plan of cutting overcapacity is carried out at the local levels.”

China aims to cut 100 million to 150 million tons of crude steel capacity in the next five years starting from 2016
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