China Is Moving to Cap Output of Metals
China plans to try to cap capacity growth in its copper, aluminum and other nonferrous metals industries in coming years, in its latest attempt to rein in its surging economy amid worries over inflation and imbalances.
Beijing has capped annual output capacity growth rate for 10 types of nonferrous metals at an average of 8%, according to the state-run China Daily and other state media Friday. The new targets are part of the country’s latest five-year plan, which starts this year.
The move marks the latest state-level push to cull overcapacity in the country’s energy-intensive metals industries, following previous efforts that include curtailing steel production capacity. In setting the target, Beijing appeared to be rekindling long-running efforts to consolidate a polluting, though essential, industry that has been mostly ineffective at subduing price volatility.