China's Hebei Steel to cut 5 mln T of steelmaking capacity for 2016-17

SHANGHAI, May 13 (Reuters) - China's biggest steelmaker

Hebei Iron & Steel Group plans to slash 5.02 million tonnes per

year (tpy) of steelmaking capacity during 2016-17, the company

said on Friday, as the government aims to cut overcapacity in

the bloated steel sector.

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