The Chinese Ministry of Industry has laid out new plans to try to deal with the overcapacity of the iron and steel sector in the next two years.
Goals laid out in the plans include ensuring that 80-percent of all the iron and steel produced in China is used, rather than stockpiled.
Chinese producers turned out some 800-million tons of steel last year.
This is half of the world's total steel output.
For more on China's steel industry, we're joined live by Mike Bastin, Director of The China Business Centre based in London.
