NDRC Outlines Targets for Steelmaking and Coal Mining Capacity Cuts
Coal, Iron Ore, Steel
China’s National Development and Reform Commission (NDRC) has set out plans to cut the country’s domestic steelmaking and coal mining capacity by around 50 Mt and 150 Mt, respectively, in 2017, according to IHS Energy. The NDRC also reported that Chinese companies cut 65 Mt of steelmaking and 290 Mt of coal mining capacity in 2016, exceeding government targets. China’s domestic coal production fell by 9.4% in 2016 to 3.4 Bt however, despite capacity cuts, crude steel output rose by 1.2% to 808.4 Mt, National Bureau of Statistics data show.