It is reported major Asian mills are expanding steel production in large extent across Asia in 2013 which might result in severe oversupply in the face of increased raw material cost and weak market prices. It is said that in Southeast Asia, Chinese steelmakers along with Korea's steel giant Posco have worked hand in hand with local steel companies to construct steel production facilities in at least 5 locations. Once it is completed, it is expected that these still mill will generate capacities ranging from 3 million tons to 20 million tons each still mill. Consequently, the total steel production output capacity in Asia will surge by around 100 million tons in a few years.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62593&division=A9
