China will prevent shuttered or illegal steel plants from returning to the market, according to an official at the nation’s lead economic planning body, signaling a commitment to a campaign by the world’s top producer that has helped to raise prices.
The nation will stick to its capacity-cuts mission this year, Ning Jizhe, vice chairman of the National Development and Reform Commission, told reporters at a weekend briefing during the 19th Communist Party Congress. Separately, NDRC Chairman He Lifeng said cuts to steel and coal capacity had resulted in more than 1.1 million workers being “reemployed” after job cuts.
