13
Apr
04:49
Magang capacity closures to reduce longs supply
Eastern China’s Ma’anshan Iron & Steel (Magang) plans to shut down two 500 cubic meter blast furnaces and 40-tonne converters by the end of April, according to local media. This equates to 1 million tonnes/year of iron and 1.28m t/y of steel capacity.
Magang estimates that its capacity cuts this year could lead to another 1,000 job losses, Kallanish notes.
According to the announcement, the capacity closures will also affect a monthl…
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