On the 18th, it was learned that the Ministry of Industry and Information Technology recently issued the revised "Implementation Measures for Capacity Replacement in the Steel Industry", further tightening the requirements for capacity replacement, highlighting differentiated policy guidance, and strengthening supervision and management requirements. The policy of replacing steel production capacity is an important measure to promote the supply side structural reform of the steel industry, consolidate and enhance the achievements of overcapacity reduction, and prevent "inward competition". Since the implementation of the "Implementation Measures for Capacity Replacement in the Steel Industry" (formerly Ministry of Industry and Information Technology [2021] No. 46), it has effectively promoted industry transformation and upgrading, structural adjustment, layout optimization, and mergers and acquisitions. But with the changing development situation of the industry, the supply-demand relationship is facing new challenges, and the transformation and upgrading of the industry and high-quality development have put forward new requirements for the policy of capacity replacement. The main content of the revision includes increasing the substitution ratio, with the substitution ratio for national ironmaking and steelmaking capacity not less than 1.5:1, and increasing the substitution ratio for mergers and acquisitions to not less than 1.25:1. Gradually cancel the capacity exchange between different enterprises and set a 2-year transition period for the implementation of capacity exchange between different enterprises; After the transition period, capacity transfer can only be achieved through substantive mergers and acquisitions. The effective period of the capacity replacement plan is 24 months. In addition, it also includes standardizing the equipment construction of stainless steel enterprises. The quantity and volume of melting alloy induction furnace equipment constructed by stainless steel enterprises must match the requirements of their electric furnace or converter processes. Supporting high-end and green development, constructing low-carbon smelting equipment such as hydrogen metallurgy, electric furnaces, and special steel enterprises can implement differentiated replacement ratios for restricted and below electric furnaces. Enhance the closed-loop management of capacity replacement plans. Provincial industrial and information technology authorities are responsible for organizing and verifying the implementation of capacity replacement plans, conducting annual self inspections of implementation status, and submitting self inspection reports. It is reported that in order to maintain the continuity and stability of the steel production capacity replacement policy, the measures have proposed principles for handling possible situations that may arise during the process of connecting new and old policies. The measures shall come into effect from the date of issuance and shall be revised in a timely manner in conjunction with the development of the industry. (Looking into the New Era)