De-capacity enters a new stage Coal and steel industry accelerates mergers and acquisitions

Since the beginning of this year, structural de-capacity work has continued to advance. With the completion of most of the coal-to-steel de-capacity tasks, the de-capacity work has entered a new phase. The reporter learned from the National Development and Reform Commission and other departments that in the future, it will continue to promote the deepening of production capacity, especially the tasks of promoting the overcapacity of coal and steel, and speed up the launch of zombie enterprises and accelerate the merger and reorganization of the coal and steel industry. At the same time, it will release high-quality and advanced production capacity in an orderly manner and expand the high-quality incremental supply.

It is understood that this year, the steel, coal, coal and electricity industries and other industries to resolve excess capacity work in an active and orderly manner. In the first seven months of this year, the coal production capacity was about 80 million tons, and the annual task of 150 million tons was over 50%, the crude steel production capacity was reduced by 24.7 million tons, and the annual task of 30 million tons was over 80%. The supply and demand relationship in the steel, coal and other industries has improved significantly, and the company’s efficiency has continued to improve.

The coal industry has a significant effect on de-capacity. Up to now, the number of coal mines under 300,000 tons has decreased by more than 2,800 from the end of 2015, a decrease of about 50%, and the number of large modern coal mines of 1.2 million tons and above has increased by about 200. Large-scale modern coal mines have become the mainstay of coal production in the country, and the quality and efficiency of industry supply have increased significantly.

At the same time, Zhao Chenxi, director of the Economic Development and Control Bureau of the National Development and Reform Commission, said that although the coal industry has achieved remarkable results in terms of capacity reduction, it is still in the “pain period” of structural adjustment and conversion of old and new kinetic energy. The high-quality supply system has not yet been fully established. In the future, we need to continue to unswervingly improve the quality of the supply system as the main direction.

In terms of steel production capacity, the task of reducing 30 million tons of crude steel capacity in 2018 has been completed 80%. After the steel industry improved significantly in 2017, the first half of this year also continued to improve, and the overall situation of supply and demand in the industry became more reasonable. However, the follow-up tasks are still relatively heavy. With the improvement of the supply and demand situation in the steel market, especially after the price rebounds, the enthusiasm of some enterprises to reduce production has declined, and the pressure to prevent new capacity and excess capacity from resuming production is relatively large.

Cai Ronghua, deputy director of the Industry Coordination Department of the National Development and Reform Commission, said that in order to better adapt to the new stage of capacity-cutting, the future will continue to promote the disposal of “zombie enterprises” and optimize the allocation of resource elements. At the same time, accelerate technological progress, increase research and development efforts, and strive to achieve breakthroughs in high-end manufacturing. In addition, we encourage qualified enterprises to implement cross-regional and cross-ownership mergers and acquisitions to promote the high-quality development of the steel industry.

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Post time: Aug-24-2018
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