Xuzhou city government in Jiangsu province of China will shut down 18 iron and steel companies to reduce their steel production capacity by 30pc in 2020. These companies will be integrated to form three large steel joint ventures, according to Metallurgical News.
A few plants have already been shut and five more will close by June 2020.
According to Jiangsu province’s three-year action plan for pollution control, iron and steel plants in Xuzhou, Nanjing, Changzhou, Huainan, Zhenjiang, Suqian city will either shut or relocate. By the end of 2020, steel production capacity in Jiangsu province will be reduced by 17.5mn mt and smelting capacity will be reduced by over 30pc.