China details plan to shut down more metals capacity
Post Date: 31 May 2010 Viewed: 465
China, the world's top producer of steel and some base metals, will close down more outdated metals production capacity this year, the Ministry of Industry and Information Technology said Thursday.
China has said it will close a total 300,000 tons of copper smelting capacity, 600,000 tons of lead and zinc capacity, 800,000 tons of aluminum capacity and millions of steel capacity under a three-year plan which started last year to reduce overcapacity and cut down pollution.
China has pledged to cut the amount of carbon dioxide produced from each unit of economic growth by 40-45 percent by 2020, compared with the 2005 level.
This year, Beijing's target is to shut down outdated capacity of 339,000 tons of aluminum, 117,000 tons of copper smelting, 113,000 tons of zinc and 243,000 tons of lead, according to the report posted on the central government website and the ministry website, which said the closed capacity details were given in a two-day meeting that started Thursday. Some 8.25 million tons of outdated steel capacity, 30 million tons of iron production capacity, 21.27 million tons of coke capacity and 1.44 million tons of ferroalloy capacity will also be closed this year, it said.