Shandong Economy and Information Technology Commission (SEITC) has announced that Shandong Province has achieved its capacity reduction targets for 2016, with 2.7 million mt of iron-making capacity and 2.7 million mt of crude steel capacity being eliminated.
In particular, Shandong Steel Group’s subsidiary Jinan Iron and Steel Co. Ltd shut down a 1,750 m3 blast furnace, cutting 1.5 million mt of iron-making capacity. Zibo Hongda Iron & Steel Co. Ltd shut down two 507 m3 blast furnaces and a 50 mt converter, eliminating 1.20 million mt of iron-making capacity and 1.70 million mt of crude steel capacity. Meanwhile, Yanzhou Alloy Steel plant shut down a 50 mt converter and Shandong Xinhua Special Steel Group Co., Ltd closed down a 40 mt converter, eliminating 300,000 mt and 700,000 mt of crude steel capacity, respectively.