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| TITLE |
Hebei Iron & Steel to cut production to meet policy |
| WRITER |
administrator |
DATE |
2010-09-16 17:48:28 |
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Hebei Iron & Steel to cut production to meet policy
Thu. 16 Sep, 2010
According to report, China’s biggest steelmaker of production, Hebei Iron & Steel Group Co Ltd, said it would cut its annual output by 6 percent to meet government’s target to reduce carbon dioxide emissions by up to 45 percent by 2020.
Its crude steel output is expected to be down by 1.5 million from September to December.
However, some analysts think the steel output cut in Hebei province may hurt the industry since the policy can be only a short time procedure on emission reduction. It changes the production plan and lowers the demand of iron ore.
Besides, it is expected that iron ore price will continue to fall before the end of this year.
Source from Yieh Corp |
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