12
Apr
07:52
Northwest China cuts steel overcapacity
The local governments of north-western China's Xinjiang and Gansu provinces have reported their plans to close steelmaking facilities in 2016. With local demand rapidly falling, over-investment in steelmaking has left the region with very serious overcapacity, Kallanish notes.
Xinjiang plans to cut 7 million tonnes/year of steelmaking capacity and Gansu wants to cut 3m t/y in 2016. The governments will also prohibit any new capacity and charge punitive elect…
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Anonymous
Very good overview of the weekly steel market.
Anonymous