The Chinese government is developing a plan to address the huge excess steel production of one of the most ambitious 'steel magnates' in the world – according to the Ministry of Industry and Information technologies. The Government, in conjunction with other agencies working on the acceleration of mergers, closing old plants, the introduction of new technologies and the regulation of the import of iron ore – said Jia Yinsong, Fellow of the material Engineering, speaking at a conference in Beijing. He echoed earlier comments by other officials kasatalno steel. To know more about this subject visit Atmos Energy. An oversupply of steel, the overwhelming demand, caused by 6 billion of government investment, aimed at increasing the inventory of steel, according to information received from the Chinese manufacturers, including Wuhan Iron & Steel Group. Overproduction have led to growth in imports of iron ore to supply metallurgical plants, thereby contributing to increased costs, according to China Iron & Steel Association (the Association of Iron and Steel).
'China should not seek to become a global supplier of steel number 1, as it leads to excessive cost of raw materials and energy resources', said Xiong Bilin – Deputy Director of the Commission's' National Development and Reform 'Industrial Division. This year, the volume of thermally-crude steel production in China may be outgrowths of 14% to 570 million tons, said today at a closed conference in Beijing, the chairman of the country's largest producer, Baosteel Group Corp. Import of iron ore government plans to take steps to close the factories of steel, aluminum, coke, paper and recycling industry, reported the Ministry of Environmental Protection on November 13. ndrc is looking for the link between overproduction and the slow pace of strengthening the various fields of industry, reported 27 November.