China is cutting down its steel and coal production to balance supply with demand.
The country has planned to reduce its steel production capacity by 45 MnT this year, and also, lower coal output by 280 MnT.
The effort to cut down steel and coal production has shown positive results in terms of garnering more economic value.The country has lowered its steel capacity by 90 MnT in five years towards the end of 2015, and aimed to lower another 1 to 1.5 trillion tonne by the end of 2020.
In the same lines, coal output in China was lower by 16.6% in Jun’16, at 277.54 MnT, on year-on-year basis. In the Jan-Jun’16 period, coal output in China was at 1,627.64 MnT, down by 9.7% as compared with the same period last year.
Moreover, China plans to maintain its coal consumption within 4.1 billion metric tonne by 2020.
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