Hunan Province-based Chinese steelmaker Hunan Valin Iron & Steel Group Co. (Valin Group) has announced that it plans to cut 2.20 million mt of iron-making capacity and 3.90 million mt of
steelmaking capacity during
China’s 13th Five-Year Plan period (2016-20). In particular, Valin Group plans to shut down 500,000 mt of
steelmaking capacity by the end of 2016.