Three Chinese mills open capacity-swap plans in June

So far this month, three Chinese steel producers have revealed plans to install new iron- or steelmaking capacity in blast furnaces (BFs) or electric arc furnaces (EAFs) totaling about 12.14 million tonnes/year, according to local government statements collated by Mysteel Global as of June 29.

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. As such, the