According to relevant guidance and implementation measures issued by the State Council and the steel and iron industry, the Industry and Information Technology Department of Shaanxi Province made the capacity transfer and replacement scheme of Shaanxi Lueyang Steel Co., Ltd. public on May 25.

Lueyang Steel will replace the original annual capacity of about 1.44 million tons with 1.15 million tons of new capacity and will transfer 260,000t of capacity to Lanxin Steel Group Co., Ltd.