Steel industry admittance policy won recognition

Oriental Morning Post reported that the newly proposed steel industry admittance policy...

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Oriental Morning Post reported that the newly proposed steel industry admittance policy, which emphasizes enlarging enterprises scale, increasing concentration and eliminating the obsolete has basically won recognition within the industry but the policy may need a buffer time before being well implemented. The Policy is learned very difficult to be enforced and may need a long acting execution mechanism. The Ministry of Industry and Information Technology drafted the policy, meaning to raise steel sector admittance threshold in terms of product quality, environment cleanup, power and resource utilization, technology and equipment, production scale and safety & social responsibility. For production scale, it requires the carbon steelmaker to produce at least 1 million tonnes crude steel and special steel makers a minimum of 0.5 million tonne in 2008. The insider estimated around 100 million tonne of the capacities are disqualified and the involved mills can be two thirds of the total. Source with a government linked steel research institute told Oriental Morning Post that "Now, We should handle the problem of weeding out the outdated, rather than talk about overcapacity too much." Mr Qi Xiangdong Deputy Secretary General of CISA had noted at My steel annual conference on December 12th that the market demand is periodic and changeable, the surplus now does not mean it will last, and the capacity is different from production. Generally, 85% utilization of the capacity is proper. He said that "But this policy is quite necessary, though very hard to be enforced. It can lend pressure on the industries and the management departments will possibly offer a buffer time."

Steel Industry Admittance Policy, Steel Industry, Enlarging Enterprises Scale, Acting Execution Mechanism, Ministry Of Industry And Information Technology, Product Quality, Environment Cleanup, Power, Resource Utilization, Technology And Equipment, Production Scale, Safety And Social Responsibility, Special Steel Makers, Crude Steel, Mr Qi Xiangdong Deputy Secretary General Of CISA, Management Departments

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