Separately, Aluminum Corp of China (Chalco) said it would cut annual aluminium production capacity by about 18 per cent because of declining prices and weakened demand.
Shan Shanghua, secretary-general of the China Iron & Steel Association, said he expected China to produce about 500m tonnes of steel this year, up a meagre 10m tonnes from last year and short of earlier forecasts of 520m-550m tonnes.
The Chinese steel industry has been hit hard by the global crisis, which has depressed export demand and has begun to depress domestic demand.
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