China’s Ministry of Industry and Information Technology announced that it would renew efforts to consolidate the nation’s excess steel capacity, the Wall Street Journal reported. Similar calls were made in 2010, but China still produced a record 626.7 million metric tons for the year, indicating the difficulty Beijing faces in curbing excess production, particularly illicit steel production. However, limited consolidation did occur: China’s 10 largest mills produced 48% of total steel output in 2010, up from 45% a year earlier. The ministry said some 179 million tons of obsolete steel and iron capacity had been shut down in 2010. The ministry also acknowledged problems within the cement industry, which increased output by over 15% last year.
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