China says it will cut both steel and coal capacity this year

China’s state planner, National Development and Reform Commission of the People’s Republic of China (NDRC), 

  • Says will cut steel production capacity by 30 mln t, coal capacity by 150 mln t in 2018
  • Will shut coal-fired power plants with capacity of less than 300,000 kw that fail to meet standards in 2018
  • Will focus on merging, restructuring steel companies and will guard against eliminated capacity coming back online
  •  Will strike balance between need to cut overcapacity and guarantee supply

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