China Unveils Detailed Plan To Cut Overcapacity In Steel, Coal
BEIJING - China will phase out about 50 million tons of crude steel capacity and over 150 million tons of coal capacity this
year, the country's top economic planner announced Friday.
By the end of June, all facilities producing inferiorquality steel bars will be dismantled and supply of steel will be
increased to avoid wild fluctuations of steel price, according to the implementation plan for cutting excess capacity in steeland coal sectors released by the National Development and
Reform Commission and other departments.