Basic Guidelines for the Steel Sector Confirmed

CISA vice chairman Luo Bingsheng said China will focus on the three aspects of the development of the domestic steel industry in the next five years: accelerate restructuring and upgrading progress of the steel sector to make it a truly powerful industry rather than a big one, strengthen mergers and acquisitions in a bid to enhance the level of centralization and optimize its management structure; and work hard to eliminate outmoded facilities and reduce the sector's energy intensity. One thing frequently discussed over much of the year is missing in the new program: exploring the new mode of iron ore pricing system.