China will strictly ban the expansion of new iron and steel projects in 2019.
Miao Wei, minister of industry and information technology, said the
industries, which were already subject to restrictions in 2018, while
newly added primary aluminum capacity would continue to be strictly
However China which is the the world’s top producer of both steel
and aluminum, has been clamping down on new industrial capacity built
without the necessary approvals in its fight against pollution.
The country last March set a target to cut around 30 million tonnes of
annual production capacity from its bloated steel sector, which
currently has a total capacity of around 900 million tonnes, in 2018.
It was also striving to meet a five-year goal of cutting 150 million
tonnes by 2020 two years early.
There is possibility that China will support key regions in cutting
steel capacity further this year
Commodities Weekly Wrap-Up: Monday June 19/Friday June 23
Nigeria bans import of South African processed meat over health scare
World Bank to disburse N8.6bn to 5,916 Nigerian youths to boost agricultural production
Nigeria’s agric export earnings rise by 180% to N5bn
Gold sustains recovery, as dollar weakens, yuan rebounds
Weak export demand push wheat futures lower
Commodities Update - September 11, 2018
HarvestPlus promises to link local processors with businesses at Food Fair
Commodities Update - November 27, 2018
China imports zero U.S. soybeans in November for first time since trade war started
Frontpage February 6, 2018
Frontpage December 11, 2017