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China to cut copper and aluminum capacity in 2011
Edited by : AL CIRCLE
2 min read
Reuters reported that China will close down 291,000 tonnes of outdated copper smelting capacity this year as part of a wider crackdown on 18 heavy and polluting industries.
The country's industry ministry said that the Ministry of Industry and Information Technology will also close 600,000 tonnes of outdated aluminum smelting capacity by the end of the year. It also aims to shut 26.27 million tonnes of obsolete steelmaking facilities, 26.53 million tonnes of iron smelting equipment and 18.7 million tonnes of coking coal capacity by the end of the year. The ministry also aims to tackle the copper sector with plans to close 291,000 tonnes of smelting capacity this year.
Beijing has put industry restructuring at the top of its list of priorities for the 2011 to 2015 period as it tries to curb Pollution and energy waste, as well as encourage the development of new and high tech sectors. It is also trying to impose discipline on industries such as iron and steel and aims to boost the market share of favored state owned giants at the expense of thousands of small and disobedient private mills.
Overcapacity has been identified as one of the biggest problems facing China's metal producers. Total steel capacity stood at 768 million tonnes last year compared with total output of 627 million tonnes.
The country's industry ministry said that the Ministry of Industry and Information Technology will also close 600,000 tonnes of outdated aluminum smelting capacity by the end of the year. It also aims to shut 26.27 million tonnes of obsolete steelmaking facilities, 26.53 million tonnes of iron smelting equipment and 18.7 million tonnes of coking coal capacity by the end of the year. The ministry also aims to tackle the copper sector with plans to close 291,000 tonnes of smelting capacity this year.
Beijing has put industry restructuring at the top of its list of priorities for the 2011 to 2015 period as it tries to curb Pollution and energy waste, as well as encourage the development of new and high tech sectors. It is also trying to impose discipline on industries such as iron and steel and aims to boost the market share of favored state owned giants at the expense of thousands of small and disobedient private mills.
Overcapacity has been identified as one of the biggest problems facing China's metal producers. Total steel capacity stood at 768 million tonnes last year compared with total output of 627 million tonnes.
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