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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 23,880 10 mei 2024 17:35
  • +0,200 (+0,84%) Dagrange 23,870 - 24,320
  • 2.942.344 Gem. (3M) 2,5M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 350 351 352 353 354 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 18 januari 2016 16:59
    ArcelorMittal and Jharkhand to ink stage II MoU for steel plant – Report

    Times of India reported that ArcelorMittal's greenfield project is likely to get a push in Jharkhand as the state government gears up to ink a second stage MoU with the company by January end. Officials in the state industry department said the high powered industry committee with chief minister Raghubar Das as its chairman will meet next week to review the global conglomerate's detailed project report, raw materials, source of funds and other paraphernalia for the 12 million tonne per annum greenfield project.

    While stage I MoU is a formal contract where a compnay proposes its project and estimates, the stage II entails a study of the aforesaid factors and will enable the company to start mining activities.

    The second stage MoU comes three months after the Raghubar Das-led-government granted approval to the steel behemoth for carrying out exploration work to determine iron ore and manganese deposits at Karampada in the Saranda reserved forest division in West Singbhum district last November. As per its initial proposal, the company had mentioned the need for diverting 202.35 hectares of forest land in the division for the project.

    The proposed steel plant was initially slated to come out in Torpa block of Khunti district and Kamdara block of Gumla district. However, sources in the department ranks said the company has zeroed in on Chas in Bokaro for the project as it plans to set a 6MTPA unit in the first phase. The annual iron ore consumption for the 12 million tonnes project is pegged at 20 million tonne.

    Source : Times of India
  2. herbie bell 19 januari 2016 10:48
    Metallics
    Prices, demand remain variable in US
    Some grades of US scrap experienced marginal movements
    this week following $10-$30 increases seen last
    week across all regions. The Detroit market was up $5 per
    ton on most grades, the exception being shredded material
    which remained at $190 per ton—narrowing the premium
    of cut to prime grade in this region to $5 per ton. The
    premium of P&S to HMS 1 in this region has widened--
    surprising given current oil prices; as the cost of energy
    becomes cheaper, it would be expected that mills would
    be more inclined to increase their tonnages of cheaper,
    yet more energy-intensive HMS since they are not purchasing
    for chemistry purposes.
    While the Chicago market typically trends the Detroit
    market, this week prices were down $5 per ton on all
    grades. This market has picked-up since December, but
    still remains less active than Detroit. Cut grades are at a
    premium to prime as a result of continued overabundance
    following a record year in the automobile industry. This
    spread is will be exaggerated as we begin to experience
    harsh weather conditions and yard-flows begin to slow.
    The southern markets remain strong, and while other
    regions increased an average $20 per ton month on
    month, the south hiked tags an average $25 per ton
    across grades. In Birmingham, shred is at a premium to
    prime, despite clean scrap being less accessible, because
    the raw material flow has diminished so much.

    source: ryan notes
  3. herbie bell 19 januari 2016 10:54

    China: To date, 2016 has been challenging. December 2015 data renewed concerns of a further slowdown. In particular, both Markit/Caixin Manufacturing and Services PMI deteriorated, highlighting difficult operating conditions for companies. Price data indicate persistent deflation, with producer prices declining for the 46th consecutive month (-5.9% y/y). Although USD-denominated exports (-1.4% y/y from -6.8% in November) and imports (-7.6% y/y from -8.7% in November) showed some improvement, it is too early to conclude that a trade recovery is emerging as regional economies (Taiwan and South Korea) continued to report export contraction in December (-13.9% and -13.8% y/y, respectively). Against this background, financial markets have been extremely volatile. On 13 January, the Shanghai composite closed at 2949 (-17% below its reading at the end of December 2015) and the RMB was at 6.58 (6.49 end-December). In the short term, there is still scope for volatility. The recent flow of economic news has not been supportive, with GDP growth in 2015 estimated at +6.8%, following +7.3% in 2014. Investor sentiment is still nervous as misperceptions on policy orientation persist.

    Germany: Continued robust growth in 2015
    First official estimates indicate that real GDP increased by +1.7% in 2015 and by +1.5% in calendar-adjusted terms (2015 had more working days than 2014), following +1.6% in 2014, and above the average of the past 10 years (+1.3%). Domestic demand was the main growth driver in 2015, with private consumption expanding by +1.9% and government consumption by +2.8%. Fixed investment increased by +1.7%, with machinery and equipment up by +3.6% while construction investment slowed to +0.2%. However, inventories subtracted -0.4pps from growth in 2015. Both export and import expansion picked up, to +5.4% and +5.7%, respectively, so that net exports made a moderate contribution of +0.2pps to 2015 growth. Euler Hermes expects an acceleration in full-year growth of +1.8% in 2016, supported by additional public sector spending related to the refugee influx. Low oil prices for an extended period pose an upside risk to this forecast, but related deflationary pressures are a downside risk. Headline inflation fell to 0.3% y/y in December (0.4% in November).

    U.S.: Strong jobs, but still no wage growth
    The December employment report was stronger than expected with 292,000 jobs created, above expectations of 200,000, and included upward revisions of 50,000 jobs to the previous two months. Even manufacturing rebounded moderately, with 8,000 new jobs, the most in five months. Unemployment remained at 5%. However, hourly wage growth disappointed, edging down to USD25.24 in December from USD25.25 in November. The December hourly wage growth was +2.5% y/y but this includes a temporary boost because of weaker data in the earlier period and next month’s y/y wage growth is likely to be less positive. The employment report is mixed news for the Fed as it shows job growth, but not wage growth. Similarly, the Fed’s “Beige Book” of anecdotal evidence reported “little overall change in wage and price pressures” and also noted that growth of consumer spending and holiday sales ranged from “slight to moderate.” We expect interest rate increases this year will be gradual, with two or three hikes at most, less than Fed projections of four separate moves.

    source: Euler Hermes economic research 14.1.16
  4. forum rang 10 voda 19 januari 2016 16:04
    IJzerertsproductie Rio Tinto gedrukt

    AMSTERDAM (Dow Jones)--De productie en verschepingen van ijzererts door Rio Tinto is het afgelopen kwartaal stil gevallen. Dit bleek dinsdag uit een update van de mijnbouwgigant over het vierde kwartaal.

    In totaal produceerde Rio Tinto afgelopen kwartaal 10% meer ijzererts op jaarbasis en verscheepte het 11% meer ijzererts. Op kwartaalbasis was echter sprake van een nipte stijging van de productie met een procent en een nulgroei bij het verschepen van ijzererts.

    Voor 2016 voorziet de mijnbouwgigant een ijzerertsproductie van circa 350 miljoen ton, ten opzichte van 328 miljoen ton in 2015, een stijging op jaarbasis van krap zeven%. De productie in 2015 lag 11% hoger dan in 2014.

    De ijzerertsprijs is de afgelopen jaren evenwel ineengestort, onder meer door een inzakkende Chinese vraag, waardoor de verkoop minder opleverde en Rio Tinto kampt met hoge schulden.


    Door Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@dowjones.com

  5. forum rang 10 voda 19 januari 2016 16:20
    China wint zaak van EU bij WTO

    Gepubliceerd op 19 jan 2016 om 07:47 | Views: 3.486

    GENÈVE (AFN/RTR) - China heeft een langslepende zaak gewonnen bij de Wereldhandelsorganisatie (WTO) over de heffingen die de Europese Unie heeft opgelegd op de import van stalen en ijzeren schroeven, moeren en bouten uit China. Peking kan nu om sancties vragen van de WTO tegen de EU en een schadeclaim indienen.

    De EU legde de heffingen in 2009 op omdat China de producten tegen dumpprijzen op de Europese markt zou verkopen. China klaagde echter dat de regels niet goed waren toegepast door de EU. Uiteindelijk is de WTO nu akkoord gegaan met China, dat claimt dat de importheffingen geleid hebben tot een negatief effect op de export van circa 1 miljard dollar en op meer dan 100.000 arbeidsplaatsen in het land.
  6. forum rang 10 voda 19 januari 2016 16:21
    Chinese economie koelt af

    Gepubliceerd op 19 jan 2016 om 07:42 | Views: 5.158

    PEKING (AFN/BLOOMBERG) - De economische groei in China daalde in het vierde kwartaal tot het laagste tempo sinds de mondiale recessie in 2009. Dinsdag werd duidelijk dat zowel de industriële productie als de detailhandelsverkopen en investeringen tegen het eind van het jaar afnamen, waardoor de groei over heel 2015 uitkwam op het laagste niveau sinds 1990.

    De tweede economie van de wereld groeide in de laatste drie maanden van vorig jaar met 6,8 procent, waar economen in doorsnee 6,9 procent voorzagen. Eind 2015 was de Chinese economie 6,9 procent groter dan een jaar eerder. Dat ligt in lijn met de expansie van rond de 7 procent waarop Peking mikte.

    De Chinese overheid heeft de handen vol aan de beoogde omslag van een economie die draait op de maakindustrie naar één die wordt aangejaagd door consumentenbestedingen. Dat proces gaat met horten en stoten en leidt af en toe tot zorgen dat de economie te sterk afkoelt en daarmee leidt tot een lagere groei van de wereldeconomie. Dergelijke zorgen veroorzaakten in de afgelopen weken veelvuldig zware beursverliezen.

    Peking vertrouwt er op dat de economie in 2016 een stabiele groei laat zien, stelde het hoofd van het Chinese statistiekbureau. ,,Een groeiniveau van 6,9 procent is niet laag'', zei Wang Baoan. Hij voegde toe dat consumentenbestedingen inmiddels goed zijn voor 66 procent van het bruto binnenlands product en dat de werkloosheid is gestabiliseerd op 5 procent. Wang erkende wel dat de interne situatie vanwege de beoogde omslag complex is. Zo zullen industriële sectoren steeds minder groeien, terwijl bij andere sectoren een sterke groei wordt verwacht.
  7. forum rang 10 voda 19 januari 2016 17:00
    Russian pig iron exports in 2015 surging

    Russia's pig iron exports totaled 289,000 tons in October 2015, up 10.7% from the same month of a year ago, indicating a year-on-year increase for five consecutive months, when they decreased by 48.4% from a month ago, standing at the second lowest level so far since the beginning of 2015, according Russian trade statistics.

    Source : Strategic Research Institute
  8. forum rang 10 voda 19 januari 2016 17:00
    Moody's downgrades Evraz North America PLC's ratings (CFR to B3) outlook negative

    Moody's Investors Service downgraded Evraz North America PLC's Corporate Family Rating (CFR) and Probability of Default Rating to B3 and B3-PD from Ba3 and Ba3-PD respectively. At the same time Moody's downgraded Evraz Inc. NA Canada's (EICA) senior secured notes to B3 from Ba3. The notes are guaranteed by EICA's parent - ENA - and by Evraz Inc. NA (EINA) and other subsidiaries of the parent and secured by a first lien on EICA and the guarantors' fixed and intangible assets and a second lien on the assets securing the asset-based credit facility (ABL - principally accounts receivable and inventory). The outlook is negative. This concludes the review for downgrade initiated on October 13, 2015.

    Source : Strategic Research Institute
  9. forum rang 10 voda 19 januari 2016 17:01
    US raw steel production Week 02 of 2016 improves WoW

    AISI announced that in the week ending January 16, 2016, domestic raw steel production was 1,652,000 net tons while the capability utilization rate was 69.1 percent. Production was 1,807,000 net tons in the week ending January 16, 2015 while the capability utilization then was 76.4 percent. The current week production represents a 8.6 percent decrease from the same period in the previous year. Production for the week ending January 16, 2016 is up 3.6 percent from the previous week ending January 9, 2016 when production was 1,594,000 net tons and the rate of capability utilization was 66.7 percent.

    Source : Strategic Research Institute
  10. forum rang 10 voda 19 januari 2016 17:02
    Layoffs - TATA Steel UK – Devastating blow to Welsh workers – Mr Nathan Gill

    Mr Nathan Gill, Leader of UKIP in Wales said, "It's yet another devastating blow to Welsh workers, Welsh heavy industry and to the Welsh economy and shows how impotent the Assembly Government and Whitehall is.”

    He said “It's so frustrating for me to look on while the Government is prevented from being able to do anything to reverse the situation, they can't offer state aid, they are limited in reducing energy costs and they can't act to prevent the dumping of cheap Chinese steel, all because of the EU, but it's heartbreaking for the workers who now face the worst possible news."

    Source : UKIP
  11. forum rang 10 voda 19 januari 2016 17:02
    Layoffs - TATA Steel UK - Labour blames Tories for putting UK steel in death spiral

    Labour accused the Government of "sitting on their hands" amid the growing steel crisis. Responding to the latest jobs cuts at Tata Steel, shadow business secretary Ms Angela Eagle called for urgent action by the Government and the EU Commission.

    She said “This is devastating news for all of the workers, their families and the close-knit communities affected. Labour has long called for David Cameron’s government to take immediate action to help the steel industry, but they’ve sat on their hands while the industry has descended further into crisis.

    She added “Only by taking immediate and decisive action, not least by fully engaging at an EU level, can the Government make sure our steel industry survives so that it can benefit from planned infrastructure spending. If this doesn’t happen urgently, the Tories’ laissez-faire attitude to our steel industry could lead the downturn into a death spiral."

    Source : ITV

  12. forum rang 10 voda 19 januari 2016 17:03
    Layoffs - TATA Steel UK – FSB Wales sees severe repercussions for local economy

    FSB Wales Head of External Affairs Mr Ben Cottam said “Today’s announcement is a hammer blow for the whole community of Port Talbot and will have severe repercussions for the local economy.”

    He said “We have not seen job losses like this in Wales since the closure of the Ebbw Vale Steelworks. In the light of this news we would urge the Welsh Government to bring forward measures to aid both those SMEs in Tata’s supply chain locally, and those businesses in the wider Swansea Bay area that will be hit as the result of the loss of so many well-paid jobs.”

    Source : Wales Online
  13. forum rang 10 voda 19 januari 2016 17:03
    Layoffs - TATA Steel UK – UK government is sleeping - GMB

    Mr Dave Hulse, GMB National Officer, said" Once again this is more heart breaking news for the steel Industry and our members. Once again this demonstrates that this government is asleep when it comes to the serious problems that we are facing.”

    He said “We are seeing local communities destroyed and supply chain companies forced out of business. This is an extremely critical time for the steel industry and our members through no fault of their own are being forced onto the dole queues while we wait for action to be taken so we are able to complete on a level playing field.”

    GMB once again ask this government and the EU Commission to wake up and stop talking about the problems and intervene with some positive action that gives assistance to the UK steel industry."

    The union is calling for a protest in Brussels on February 15th to get the commission to deal with dumping of Chinese steel.

    Source : Wales Online
  14. forum rang 10 voda 19 januari 2016 17:04
    Layoffs - TATA Steel UK - Ministers need to smell the coffee and act - TUC

    The TUC has called for urgent government action to support the UK's ailing steel industry after Tata confirmed more than 1,000 job losses, the majority of which will be felt in Wales.

    TUC general secretary Ms Frances O' Grady said: "With the manufacturing sector now in recession, the last thing Britain needs is further damage to the steel industry. Steel is a foundation industry on which other sectors depend. Britain desperately needs a real industrial strategy.”

    She said “Ministers in London need to wake up and smell the coffee. Cheap Chinese steel imports are wrecking the steel industry. The government must take measures to prevent China from dumping cheap steel on the world market.”

    She said “The British government can start by opposing the granting of market economy status to China, and by using business rates and procurement policy to protect this vita industry.”

    Source : Wales Online
  16. forum rang 10 voda 19 januari 2016 17:05
    Dillinger plates support the production of green energy

    The offshore wind farms of the North Sea (Westermost Rough) and Baltic Sea (EnBW Baltic 2) which have been inaugurated over the past few months are supported from 62,000 t Dillinger steel. They are able to supply 150,000 British (Westermost Rough) and 340,000 German (Baltic 2) households with eco-friendly electricity. So they make a decisive contribution to save over 1 million tons of CO2 every year.

    The Westermost Rough offshore wind park is situated 8 km off the British east coast (Yorkshire) and covers a total area of approximately 35,000 km2. It comprises 35 wind turbines of the next generation Siemens SWT-6.0-154 and is thereby the first offshore wind farm to use 6 MW turbines on a commercial basis. Furthermore, the rotor blades, with a length of 75 m, a diameter of 154 m and the swept area of each turbine of 18,600 m2 are considered as the longest in the world. The dimensions of the monopile foundations are also gigantic: diameter up to 6.5 m, length up to 60 m and weight up to 810 t. For these monopile foundations erected in 20 m water depth, Dillinger Hütte supplied around 24,000 t of thermo-mechanically rolled heavy plates in thicknesses from 40 to 107 mm.

    With its 80 Siemens SWT-3.6-120 turbines erected in the waves of the Baltic Sea, the offshore wind farm EnBW Baltic 2 covers an area of almost 27 km2, making it the largest offshore wind farm in the Baltic Sea area. The wind turbines rising 138 m above the surface of the water are almost as tall as the Cheops Pyramid in Giza. Its location in the German exclusive economic zone (EEZ), 32 km north of the island Rügen, with variing water depths between 23 and 44 m and difficult soil conditions presented a new challenge for the wind farm developers. Finally, depending on the water depth, the wind turbines have been erected on different foundations. Monopiles have been used for water depths up to 35 m, while three-legged jackets have been utilized at depths over 35 m. For the 39 monopile and 41 jackets foundations Dillinger Hütte supplied around 37,700 t of thermo-mechanically rolled heavy plates in thicknesses from 20 to 85 mm.

    Source : Strategic Research Institute
    Bijlage:
  17. forum rang 10 voda 19 januari 2016 17:07
    New 80 tonne Danieli converter at APERAM Brazil commissioned

    The plant supplied by Danieli Linz Technology was put on stream 12 months after the signing of the contract. In November 2014, APERAM Inox awarded DANIELI an order to revamp the existing converter at Timoteo (Brazil). The contract included the engineering, supply, advisory services for erection and commissioning of the converter vessel, suspension system, trunnion ring and slag shields.

    On December 27th, 2015 the new 80-t MRP-L converter produced its first heat of liquid steel, just 12 months after the signing of the contract.

    The following features were key to this success:

    • Change in trunnion design from bolted to welded type: this freed up some space to increase the inside volume of the converter from 56 m3 to 64m3;

    • Introduction of a flange connection in the barrel part of the vessel shell in order to avoid any site welding, simplify transportation, and reduce the erection time by approx. 50%;

    • Suspension system based on vertical and horizontal lamella-type elements. The standard design of the vertical elements was upgraded, and the industrially proven horizontal DANI-ELLA® elements (which are successfully in operation on a 350-t converter since May 2014 ) were applied to incorporate a new Danieli solution. This combination creates a new state-of-the-art maintenance-free suspension system.

    A well-planned pre-assembly and erection procedure reduced the total project time and the site activities to 17 days from the start of erection. This consolidated the collaboration between the teams of APERAM Timoteo and DANIELI Linz Technology.

    Source : Strategic Research Institute
    Bijlage:
  18. forum rang 10 voda 19 januari 2016 17:09
    US steel exports in November 2015 dip further – AIIS

    American Institute of International Steel announced that US steel exports fell again in November, dipping 9.3 percent to 712,164 net tons. November’s exports, which were more than one-fourth lower than in November 2014, included-

    364,127 net tons sent to Canada (down 12 percent from October 2015 and 24 percent from November 2014);

    265,912 net tons sent to Mexico (down 5.6 percent from October 2015 and 24.2 percent from November 2014); and

    17, 307 net tons sent to the European Union (down 10.7 percent from October 2015 and 20.4 percent from November 2014).

    Through the first 11 months of 2015, steel exports were down 16.8 percent at 9.25 million net tons. Exports to Canada, which dropped more than 23 percent to 4.55 million net tons, drove the decline. Exports to Mexico slipped 7.7 percent to 3.54 million net tons, while exports to the European Union were nearly unchanged at 310,328 net tons.

    Source : Strategic Research Institute
  19. forum rang 10 voda 19 januari 2016 17:12
    Layoffs - What's going wrong with UK steel industry

    BBC reported that over the past few months, one part of the UK economy ie the steel industry has been grabbing the news headlines, but for all the wrong reasons. Tata Steel's announcement of another 1,050 job losses at the firm is just the latest blow to the industry. The cuts come on top of the 1,200 jobs axed at the Indian-owned giant just last October, amid an industry-wide cull. Around the same time, Thailand's SSI announced it was closing down its Redcar works with the loss of 2,200 jobs, then parts of Caparo Industries' steel operations went into administration putting 1,700 jobs potentially at risk.

    The steel industry says it has been hit by a combination of factors: the strength of the pound, relatively high electricity prices, the extra cost of climate change policies, and competition from China - there have been allegations that Chinese steel is being sold in the UK at unrealistically low prices. So what's the truth of it all - just why are significant parts of Britain's steel industry in such trouble? What's behind the current crisis?

    A strengthening pound has been one of the factors making UK steel expensive on the international markets. In summer 2015, sterling reached a seven-year high against a basket of currencies, after Bank of England Governor Mark Carney signalled the first rise in interest rates since the crash could sooner than expected.

    At the same time, global steel prices have fallen sharply. Meanwhile, China's own economic slowdown has led Chinese producers to seek export markets as their home demand has stalled. As a result, UK imports of Chinese steel have increased dramatically. In 2014 the UK imported 687,000 tonnes of steel from China compared to 303,000 tonnes the year before. It is true that the UK's steel imports from the rest of the EU are much higher - 4.7 million tonnes in 2014, but crucially China is selling its steel at much lower prices. According to Eurostat, the EU's statistics agency, EU steel imports into the UK cost on average 897 euros a tonne in 2014, while Chinese steel imports were just 583 euros a tonne - leading to accusations that it is selling at unfairly low prices.

    High energy costs for energy-intensive businesses like steel production are also a factor, says the industry, added to by the extra cost of climate change policies. UK Steel, the industry body, says government policies to compensate steel companies for these extra costs have been coming in too slowly.

    There are also strict EU rules that restrict how much support governments can give to particular industries.

    Almost 20,000 people are employed in the steel sector, and more than one in six are now either losing their jobs or at risk of losing them. Many argue that this is not just a crisis for the steel sector, but one affecting UK manufacturing in general, which accounts for roughly 10% of UK economic output. This is because beside the job losses already announced, there will be an impact in other allied sectors - on steel processors, distributors, scrap metal dealers, metal traders and other metal product manufacturers.

    The industry is clear what it needs: lower business rates, a relaxation of carbon emissions targets for heavy manufacturers, more compensation for high energy prices, and a commitment that British steel is used in major construction projects.

    Source : BBC
  20. forum rang 10 voda 19 januari 2016 17:12
    Hebei government step up relocation of obsolete polluting steel plants

    China Daily reported that a steel plant has been ordered to move out of Shijiazhuang, capital of North China's Hebei province, within the next two years to cut pollution in one of the nation's 10 most-polluted cities. It is one of at least four such plants ordered to move from downtown areas in the nation's premier steelmaking province.

    The Shijiazhuang Iron and Steel Co has also been told to reduce its production to help lessen China's overcapacity problem, and modernize its operations to become cleaner and more efficient. According to a government announcement, the company, a subsidiary of China's largest steelmaker, Hebei Iron and Steel Group, must finish the move from the Chang'an district of Shijiazhuang to Jingxing county by the end of 2017. The new location is about 70 kilometers from its old site near the center of Shijiazhuang. The company, founded in 1957, has been emitting sulfur dioxide, smoke, dust and nitrogen oxide for nearly 60 years. The steelmaking capacity of the plant is 2.6 million tons a year, making up 5.2 percent of the group' production capability. When the relocation is complete, its capacity will be reduced to 2 million tons.

    Mr Wang Liping, chairman of Shijiazhuang Iron and Steel, said “Relocation is not just transferring of capacity and pollution. Companies like mine are required to upgrade their production process and greatly reduce pollutants after the relocation. It's like a process of purification. The relocation will cut the company's emissions of sulfur dioxide by 73 percent, and that of smoke and dust by 23 percent.”

    Other plants to be moved are those of Bohai Steel Group in Tangshan and Jinan Steel Group and Taihang Steel Group in Handan. They will be moved from city centers to coastal zones or special industrial zones far from downtowns by 2017. For the three companies, a total of 16.2 million tons of steel capacity will be moved.

    Preparations for plant relocations started in 2014, right after the State Council designated Hebei as a key province in the structural readjustment of the iron and steel industry. Hebei is the nation's top iron and steelmaking province, accounting for about a quarter of the nation's total steel production. In 2014, as the province launched a restructuring program, steel production there reached 185 million tons. By 2017, the province is expected to cut its steelmaking capacity by 60 million tons, in accordance with goals set in 2014. By the end of last year, the province had cut its steelmaking capacity by 41.1 million tons, according to the province's government work report released last week.

    Source : China Daily
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