Three Chinese steelmakers unveil capacity swap plans in April

Last month, three Chinese steel mills in two provinces released plans to install new iron- or steelmaking capacity in blast furnaces (BFs) or electric arc furnaces (EAFs) totaling 5.38 million tonnes/year, according to local government statements collated by Mysteel Global.

To add new facilities, Chinese steelmakers need to meet the country's long-standing "capacity swap" regulations which demand that whenever new iron- or steelmaking capacity is introduced, old facilities of at least the same productive capacity in operation at the time needs to be stopped and eventually scrapped, as reported. The