China Eases Steel and Coal Production Cut Targets

Steel and coal were winners in 2016 and now China is easing back on planned production cuts.

The subject of the Chines article below article is this Bloomberg Businessweek article written by Li Keqiang: China Premier Li Keqiang: ‘Economic Openness Serves Everyone Better’
In 2016, China shed more than 65 million and 290 million tons of inefficient steel and coal-mining capacity, respectively. We plan to raise those numbers to 140 million and 800 million tons within the next three to five years to restore healthier fundamentals to those industries.
Hmm, except the Chinese media tells us these are target reductions, not increases.

iFeng: 李克强外媒刊文修正中国钢铁煤炭去产能目标
In the signed article, Li Keqiang clear China's production capacity to road map: plans in 3 to 5 years, iron and steel, coal production capacity were reduced by 140 million tons and 800 million tons, so that related industries to restore a more healthy fundamentals.

In other words, the steel production capacity target from the original fixed 100-150 million tons now 140 million tons; the coal industry, total capacity cuts from a year ago planning a 1 billion tons reduced to 800 million tons.
The article also says half the provinces have hit their steel cut targets in the current 5-year plan.

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