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Members of the two sessions talked about iron and steel, speeding up the resolution of overcapacity in the iron and steel industry

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2021-09-22

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In the past two weeks, the work of the "Two Sessions" in various provinces and cities across the country has been held one after another. Sun Zhaohui, a member of the CPPCC National Committee and deputy director of the State Key Laboratory of Comprehensive Utilization of Vanadium and Titanium Resources from Panzhihua Iron and Steel, said in an interview with Xinhua News Agency reporters on the 6th that domestic steel production capacity is severely surplus, and the high price of imported iron ore swallows up the meager profits of steel companies. As a result, China's steel industry as a whole is on the verge of loss, and it is hoped that the country will speed up the resolution of overcapacity in the steel industry.

In 2012, it was affected by multiple factors, including: the international economic downturn, the decline in China's economic growth, the shrinking market demand, and the decline in steel prices, which led to industry losses. Sun Zhaohui said that the contradiction of oversupply in the steel market is prominent, and the domestic crude steel production capacity is expected to exceed 1 billion tons in 2013. During the interview, Sun Zhaohui appealed, “I hope that the country will make full use of the forcing mechanism formed by the international financial crisis, strictly implement policies and measures such as regulating the production and development of steel enterprises, eliminating outdated production capacity, and speeding up mergers and reorganizations of enterprises, and speeding up the resolution of excess capacity in the steel industry. The continuous and healthy development of the steel industry creates a good environment."

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