China's top 10 steel mills to control 60% capacity by 2015

The auto and aluminium sectors aim to bring 90-percent of its production capacity under the country’s top ten firms. the steel industry on the other hand, has a goal of bringing around 60-percent of total capacity under the top ten steel mills by 2015.

According to the Ministry of Industry and Information Technology, China’s top 10 steel companies currently only account for 48 percent of national production.

Let's compare that number to some other economies. Japan’s top four steel makers account for nearly three quarters of total production. And South Korea’s top three steel makers account for nearly 90-percent.

China said last month that it would also wind down the number of smaller and private mills by raising environmental requirements, forcing steel producers to improve efficiency and invest in newer, more modern equipments.

In addition, steel mills will not be permitted to start new capacity operations in 47 large cities, including Beijing, Shanghai, Tianjin and Chongqing.

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