China Speeds Up Steel Capacity-Replacement Projects, an Industrial Info Market Brief

With COVID-19 contained in China, the Chinese government is currently focusing on promoting large-scale infrastructure and industrial projects to lift the economy. Local governments plan to accelerate the progress of steel capacity-replacement projects, which include Zenith Iron and Steel's Nantong base replacement project, with a total investment of 52 billion yuan ($7.3 billion), and Rizhao Steel Holdings' capacity replacement project of 30 billion yuan ($4.2 billion), that are expected to kick off within the year.