Baosteel's Shanghai base directed to limit electricity use - state media report
Shanghai. May 16. INTERFAX-CHINA - Baoshan Iron Steel Group's (Baosteel Group) Shanghai base has been directed to limit its energy consumption levels this summer, state media reported May 14.
According to an official Xinhua news agency report, the government has placed caps on the company's power consumption in the months of June to September.
Baosteel Group was unavailable for comment when contacted by Interfax on May 16.
China's daily crude steel output hit an all-time high of 1.97 million tons in April, while the country's power consumption for the month increased 11.2 percent year-on-year to 376.88 terawatt hours (TWh), Interfax previously reported.
Zeng Jiesheng, an industry analyst with Mysteel Information, told Interfax that the increase in crude steel production was one of the reasons behind the jump in power consumption last month.
Zeng believes that the power limitations will have little impact on Baosteel Group's daily operation. "As a large-scale steelmaker, Baosteel Group is capable of producing large amounts of power itself," said Zeng.
- KHM