Mr He Wenbo GM of BaoSteel expressed that their crude steel production in 2012 amounted to 44 million tonnes and they have shut down 3 million tonnes of capacity at the end of last year in Shanghai base.
Besides, they decided to control steel capacity in Shanghai within 16 million tonnes via closing down 3 million more capacity. And after acquisition, the capacity in Shanghai would decrease 10-15 million tonnes.
More importantly, their 60 million tonnes capacity target was delayed to 3 years after 2015, previous time limit, as their first priority is to improve technical capability and mainly producing high value-added steel plates, etc.
