01
Jun
10:35
Hegang discloses capacity reduction plans
China’s Hebei Iron & Steel Company (Hegang) has given details of 5.02 million tonnes/year of steelmaking capacity to be cut across three subsidiaries in 2016-2017, according to its official news. Hegang also will resettle 7,445 employees over the same period, Kallanish notes.
Hegang plans to dispose of three 450 cubic metre blast furnaces, one 55-t converter and one rolling production line in 2016, eliminating 830,000 t/y of steelmaking capacity. It al…
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Very good overview of the weekly steel market.
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