The Chinese government announced on October 15 that China is to restructure the iron and steel industry in certain provinces especially in Shangdong, Hebei, and Liaoning.
The major tasks for the local governments are on concentrating dispersed steel capacity, optimizing industrial distribution and reducing outdated capacity of around 80 million ton in the industry during 2013-2015 periods.
In addition, steel standards especially for rebar, shipbuilding steel and electrical steel are to be upgraded.
Rebar of previous standard with strength exceeding 335 MPa will be replaced by strength above 400 Mpa.