China Exceeds 2016 Capacity Cut Target, But Much More Remains
01/19/2017 - Although China cut up to 80 million metric tons of steel capacity last year, much of it was already idle and did little to reduce output, reports the Reuters news service.
"If you look at steel production last year, there was no change compared with 2015. .... The capacity cuts only changed the distribution of steel production, not the total amount," Xu Zhongbo, head of Beijing Metal Consulting, told the news service.
Retuers has more on the story here.
Retuers has more on the story here.
