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SNF influenced by steel industries

 SNF influenced by steel industries

In a move designed to combat overcapacity in the steel sector, China will relocate some factories and encourage more companies to invest in overseas projects, said an official with the country's top planning agency.

In the meantime, the NDRC will ratchet back new projects and take on existing outdated production through legal and market-oriented means, and authorities will create policies to boost domestic demand for high-end steel products and encourage steel companies to invest in overseas projects.

"Overcapacity is now a universal phenomenon in the Chinese economy; some sectors are facing severe problems in waste and inefficient allocation of resources, which hinders industrial upgrading,"

The price of steel is now on par with that of 20 years ago, while production costs have surged by five to six times, And it mainly will be undertaken by companies, because government-backed projects were shown to be less welcome and face more complex approval processes.

Because of these situation of steel market, less buyers in whole market leads many steel wasted here, then naphthalene coming from steel industries will be surely decreased which will be directly influence the price of SNF.

 

The total situation for SNF now is keeping rising just coming from this reason. If  the country will help steel export more capacity to aboard then the status maybe will have changes. Surely the price of SNF will have some down here.