China vows to further cut outdated coal, steel capacity

Time:2020-06-22 11:02:12      Source:Xinhuanet.com
China will continue to reduce its outdated production capacity of coal and steel this year, the country's top economic planner said Thursday.
 
The country will push supply-side structural reform in the steel sector, accelerate the cuts in overcapacity and encourage the green and innovative development of the sector, the National Development and Reform Commission said in an online statement.
 
Coal mines that do not meet the country's safety and environmental standards should be cleaned up, while inefficient production capacity will also be cut, the statement said.
 
The total number of coal mines should be reduced to no more than 5,000, while production by large-scale coal mines should account for some 96 percent of the country's total output, the NDRC said in a separate statement.
 
China aims to improve its energy structure to make it greener and more efficient. Information technologies are encouraged to be used in coal mines to further enhance safety and efficiency, the commission said.
 
 
 
Index RMB/t DoD Basis Date
Datong 5500 455 0 ex-mine 07-01
Shuozhou 5200 445 0 FOR 07-01
Ordos 5500 420 0 ex-mine 07-01
Yulin 6200 540 0 ex-mine 07-01
Liulin Low-sulphur 565 0 ex-mine 07-01
Gujiao Low-sulphur 1095 0 FOR 07-01
Xingtai Low-sulphur 1210 0 ex-Factory 07-01
Yangquan PCI 795 0 FOR 07-01
Index RMB/t WoW WoW% Date
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