A new steel development policy, as a supporting measure of the previous steel industry revitalization program, is due to be spelled out by the end of this June. The new policy, based on the fact that the domestic steel industry is still in a stage of periodically and structurally superfluous capacity, has made rigid require

ments for steelmakers in terms of structural adjustments to their equipment, energy saving and emissions reduction, and merger and acquisition activities, said an official with the Ministry of Industry and Information and Technology who declined to be named.