Mandatory steel plans dumped

PUBLISHED : Friday, 19 December, 1997, 12:00am
UPDATED : Friday, 19 December, 1997, 12:00am

Mandatory planning of the production of rolled steel will be scrapped from next year, the latest move to make the steel sector more responsive to market forces, the Market Daily reported yesterday. 'The mandatory planning of rolled steel production will be cancelled from next year, and demand-oriented production will be implemented,' the paper said, quoting the State Planning Commission. The government would select 30 key iron and steel firms to secure the demand of rolled steel for key sectors, including military industry, electric generation equipment and construction, it said.