The reasons for the shutdown of Zunyi Fuxin Iron and Steel Plant are overcapacity, oversupply, product backlog, poor sales and difficulty in withdrawing funds. Equipment aging, need to install new environmental protection equipment, need a lot of money, but the funds are empty.
Zunyi Fuxin Iron and Steel Plant is a large-scale private enterprise integrating R&D and steel sales, steel scrap recycling and comprehensive utilization, steelmaking, steel rolling, oxygen production, logistics and new energy. It is the eighth private enterprise among the top 100 enterprises in Guizhou Province.