Off the wire
• Regulator approves Midea's takeover bid for German firm  • Revenue of S. Korean companies falls for 8 quarters on sluggish exports  • Cambodia, Vietnam encourage countries to resolve disputes by peaceful means  • Update: Iran files lawsuit at int'l court over U.S. seizure of its assets: IRNA  • Myanmar, India vow to cooperate in border security  • Uganda launches child rights manuals to mark Day of African Child  • Indian stocks close lower  • China's bond issuance hits 3 tln yuan in May  • 1st LD-Writethru: China urges U.S. not to interfere in domestic affairs on Tibet issues  • 1st LD-Writethru: Xinhua Insight: First Disney resort in Chinese mainland opens in Shanghai  
You are here: 　 Home

China moves to reduce non-ferrous metal overcapacity

Xinhua, June 16, 2016 Adjust font size:

The Chinese government on Thursday released a guideline on new capacity and reducing overcapacity in the non-ferrous metal sector.

The guideline aims to dissolve excess capacity and balance supply and demand of non-ferrous metals, the State Council, China's cabinet, said in a statement on its website.

The government will control new capacity for metals already with overcapacity, such as electrolytic aluminum, and take measures against illegal addition of capacity.

Non-ferrous metal producers are encouraged to cut low-efficiency capacity and make adjustments in development strategies.

The statement added that the country will optimize the sector's overall structure, raising the proportion of recycled non-ferrous metals.

Excess production capacity is a chronic problem for some non-ferrous metals. In 2015, production of 10 major non-ferrous metals -- aluminum, antimony, copper, lead, magnesium, mercury, nickel, stannum, titanium and zinc -- rose 5.8 percent to 50.9 million tonnes. Endi