China approves steel capacity swap projects for 11 companies in H1
Time:Wed, 17 Jul 2024 09:46:20 +0800
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In the first half of the year, China approved steel capacity swap projects for 11 companies, prioritizing electric arc furnaces (EAF) over basic oxygen furnaces (BOF). The projects will cut 119.78 million tons/year of iron capacity and 240.25 million tons/year of crude steel capacity.
Zhenshi Group’s Eastern Special Steel plans to expand from its one 75-ton EAF to two 110-ton EAFs and one 115-ton EAF, boosting capacity to 2.51 million tons/year. Overall, 2.93 million tons/year of crude steel capacity will shift from BOFs to EAFs.
