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China continues to implement a plan for the closure of facilities

4 July 2017

Data regarding the closure of facilities provided to the national Commission of China for development and reforms. Consideration was given results in January-may this year. During this period in China, the company withdrew from the work of annual production capacity for the production of 42.4 million tons of steel. As for coal, its production decreased by 97 million tons. To date, the implementation of the annual plan to stop the excess steel enterprises leaves was 84.8%. Plan for coal is 65%.

His vision of the situation voiced Meng Wei, a press-the Secretary of the Commission. In the steel sector in the bulk stop at a small production. Such plants tend to focus on the production of low quality rental. If to speak about the task set by the Chinese government, the elimination of such enterprises that are scheduled before the end of the first half of this year were completed ahead of time.

The removal from the market of companies producing low-quality steel, made it possible to stabilize the cost of the rental. The output of sub — standard fittings- namely the release of a small enterprise improved the financial results of the metallurgical companies of the country. You can consider the period from January to April 2017. During this period, about 70 medium and large companies in CISA have received 32.9 billion yuan of profits. In dollar terms, this amount reached 4.8 billion USD. For comparison, we can consider the same period in 2016. At this time there has been an overall loss of 1.1 billion yuan.

In 2017 it is generally assumed closure of steelmaking facilities in the amount of 50 million tons/year. Capacity reached 150 million tons. Last year the operation took place on the enterprises, issuing in the aggregate more than 65 million tons of steel. Coal volume was 290 million tons.

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