China plans to shut down 60% of steel mills in Hebei province by 2020

  Thursday, March 10,

  It is reported that China’s Hebei province has planned to shut down 60% of steel mills by 2020. This main reason is to cut steel overcapacity in China. The overcapacity has forced the steel to the lowest level in decades.

  Any new high-energy-consuming and highly polluting steel projects will not be allowed in Hebei. China would decrease crude steel capacity by 100 million to 150 million tons within the next five years.