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China Moves Forward On Second Round Of Construction on Steel Works
08/25/2015 - In spite of lower demand and ample supply, China has begun the second phase of construction on a large, coastal mill in northern Hebei province, according to Reuters.
The news service reported that the project at the Shougang Jingtang United Iron & Steel Co. mill is one of several integrated mill projects that were approved during the country's steel boom.
Reuters said China plans to boost the crude steel output of its top 10 steelmakers to more than 60 percent of the country's total by 2025.
China's steel output reached 822 million tonnes in 2014, Reuters said. That same year, it had a steelmaking capacity of 1.16 billion tonnes.
