Hebei Iron & Steel says steel capacity expansion exceeds closures

BEIJING Tue Feb 25, 2014 8:48pm EST

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BEIJING Feb 26 (Reuters) - New steel capacity addition in China was still exceeding the tonnage that was due to be shut this year despite the government vowing to block expansions, China's top steel maker Hebei Iron and Steel Group said on Wednesday.

Thirty million tonnes of production capacity is currently under construction, while Hebei province will only close about 15 million tonnes of capacity this year, Wang Jiguang, director of Hebei Group's sales unit, said at the Metal Bulletin conference.

Hebei is the largest steel producing province in China and has an annual production capacity of 250 million metric tonnes. (Reporting by David Stanway; Editing by Paul Tait)

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