Replacement plan issued for blast furnace overcapacity of Ningbo Iron and Steel

On June 22, the Department of Economy and Information Technology of Zhejiang Province publicly released the supplemental capacity replacement plan for the blast furnace upgrade project at Ningbo Iron and Steel Co., Ltd.

Ningbo Iron and Steel had previously constructed two 2,500m3 blast furnaces (designated New No. 1 and New No. 2) through a capacity swap arrangement. However, the 2023 Yangtze River Economic Belt Ecological and Environmental Protection Warning List identified that the actual working volume of the two furnaces measured 2,700m3 each, resulting in a combined overcapacity of 240,000tpy of ironmaking capacity.

To address the compliance gap, Ningbo Iron and Steel has procured additional capacity from external sources and will implement a supplemental capacity replacement plan to rectify the excess capacity in accordance with regulatory requirements.