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Twenty-nine Chinese steel firms have had their licenses revoked

Writer:Fanny KangDate:2017-4-25 17:06

China clamps down on excess steel

(Reuters) - Twenty-nine Chinese steel firms have had their licenses revoked as Beijing kept up its campaign to tackle overcapacity in the sector and days after U.S. President Donald Trump said he would open a probe into cheap steel exports from China and elsewhere.

China's Ministry of Industry and Information Technology released a list on Monday of 29 firms that will be removed from its official register of steel enterprises. Most have already stopped producing steel, but some had illegally expanded production or violated state closure orders.

China is aiming to shed between 100 million to 150 million tonnes of excess capacity over the 2016-2020 period. It also plans to shut around 100 million tonnes of low-grade steel production by the end of June.

On Monday, another 40 steel firms have been asked to make changes in areas such as environmental protection and safety.

The majority of the companies were accused of failing to comply with emergency output restrictions during heavy pollution periods, and they must fully "rectify" their violations within a prescribed period, the industry ministry said, without giving a specific time frame.

TypeInfo: Industry News

Keywords for the information:Chinese steel  excess steel