[Ferro-Alloys.com] According to China Iron and Steel Association said, the government finally decided to cut 140 million tons of steel production before 2020, and it will be completed 70% of steel production capacity reduction in 2018. This is the first time China publicly specific reductions plan.
In fact, there are worries that even if the Chinese Central Government policy, may also be unable to advance due to local resistance. However, CISA is confident while Central Government has signed agreement with provinces, municipalities and autonomous in order to cut the production capacity, it must be able to complete the reduction of surplus production capacity in near future.

• [Editor:Chen Zhen Seng]