Reportedly, Zhang Changfu, the vice chairman and secretary general of the China Iron & Steel Association (CISA) said that the Chinese steel industry’s margin reached at 0.48% in the January-November period due to increasing steel production, high production costs and low steel prices.
He added that the steel industry has been hurt by steel overcapacity even though the government has tried to solve the problem of overcapacity by eliminating outdated and polluting facilities.
Zhang said that the problem could be solved within the next 3-5 year, driven by the industry’s 30 years of rapid development.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67854&division=A6
