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Eurofer President: China’s Capacity Cut Promises Are ‘Genuine’
05/10/2017 - China will indeed cut its capacity, but a reduction in capabilities won’t necessarily lead to a reduction in output, the president of the European steel association, Eurofer, said on Wednesday, according to the Reuters news service.
"I think the Chinese government has a genuine goal of reducing capacity because they subsidize it. It’s costing them lots of money ... but cutting capacity doesn't mean you cut production," Geert Van Poelvoorde said, speaking during the European Steel Day conference in Belgium, Reuters reported.
"There will be in the next quarters more overproduction in China," he said.
Reuters has the full story here.
"There will be in the next quarters more overproduction in China," he said.
Reuters has the full story here.
