The Rest of World Should Cut Its Excess Capacity, Too, China Official Says
04/07/2016 - A Chinese steel official is throwing criticism of the country's steel industry back at the countries dishing it out, saying that mills in other parts of the world are struggling because they are uncompetitive, according to BloombergBusiness.
According to the news agency, Li Xinchuang, president of the China Metallurgical Industry Planning and Research Institute, also said that while export volumes won’t increase from last year’s record, they won’t decline significantly, either.
China last year exported more than 100 million metric tons, an amount that exceeds the output the United States.
Separately, The Wall Street Journal reported that Li said China isn't the only country with too much steel capacity.
"Overcapacity in the steel industry is global," Li said. It is not only a situation in China."
China last year exported more than 100 million metric tons, an amount that exceeds the output the United States.
Separately, The Wall Street Journal reported that Li said China isn't the only country with too much steel capacity.
"Overcapacity in the steel industry is global," Li said. It is not only a situation in China."
