Hebei steel capacity cuts targets are set for 2019 and 2020
7 March 2019
Hebei province sets capacity cut target for 2019 and 2020
(Asia Pacific): Hebei province, the hub of Chinese steel production, announced to cut 14 million tonnes of steel making capacity in both 2019 and 2020. Regardless of previous capacity cuts in the province, production increased 50 million tonnes since 2014 and reached 237 million tonnes in 2018, according to the National Bureau of Statistics estimates.
Bajaj Auto plans to manufacture motorcycles in Mexico
(North America): India’s leading motorcycles maker Bajaj Auto has announced to start production in Mexico in collaboration with local automotive company Grupo Surman. The commercial production is expected to start in 2020 with an annual capacity of 50,000 units.
Pakistan in dialogues to sell Pakistan Steel Mills
(Asia Pacific): The government is in negotiations with potential Russian and Chinese buyers of Pakistan Steel Mills, a state-owned integrated steel mill is running in the loss for many years. The current capacity of the mill is 1.1 million tonnes, which is intended to be increased up to 3.5 million tonnes by the potential buyers.
Evraz Canada to receive $29.7 million investment from the government
(North America): In a C$112.6 million up-gradation project of Evraz North America’s facilitates in western Canada, the Canadian government will invest C$40 million. The up-gradation will improve the competitiveness of Evraz in OCTG market and would also increase sustainability by decreasing emissions.
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