Govt set to curb low-quality steel

China will launch an inspection shoddy steel products and excess steel capacity from May to June, according to the nation’s top economic planner. The inspection aims to prevent steel companies from breaking a ban on low-quality steel made from scrap metal or restoring excess capacity that has been eliminated, said Shui Hengyong, an official with the National Development and Reform Commission. The inspection will be organized by an inter-ministerial mechanism, which has staff from 25 government agencies and industry associations. China plans to cut ineffective steel capacity by 30 million metric tons this year. ed due to a slowdown in construction activities, as projects were called to a halt due to the cold weather and the Spring Festival holiday. Net diesel exports dropped 27.1 percent in February. also known as the “new third board,” saw the debut of nine new small and medium-sized enterprises last week. With the newcomers, the total number of companies on the board reached 11,559, according to new NEEQ data. From March 26 to 30, turnover on the board stood at 2.06 billion yuan ($327 million), up 36.7 percent from the previous week. The NEEQ was launched in early 2013 to supplement the Shanghai and Shenzhen stock exchanges in serving small and medium-sized enterprises. 3,000 researchers in the next five years to focus on advanced technologies like autonomous driving. another order for 50 more tractors from KESI after the delivery.