China's Hebei to cut iron, steel production in 2017

Hebei, China's main province for the production of iron and steel, has increased its iron and steel capacity-cutting targets for next year, the provincial government said Tuesday.

The province will cut 17.14 million tonnes of iron capacity and 19.86 million tonnes for steel in 2017, more than the original targets of 16.24 million tonnes of iron, and 15.62 million tonnes of steel, according to a decision made at the ongoing provincial economic work conference.

Cutting overcapacity is high on the reform agenda as excess capacity has weighed on China's overall economic performance. Hebei, also a major victim of severe air pollution, has vowed to cut 60 million tonnes of iron and steel capacity by the end of 2017. Endit