China's steel industry fragmentation worsening: official

  • 📰 Reuters
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

China's steel sector fragmentation is worsening, an industry official said ...

FILE PHOTO: A worker walks past steel rolls at the Chongqing Iron and Steel plant in Changshou, Chongqing, China August 6, 2018. REUTERS/Damir Sagolj

Beijing has been trying to consolidate the world’s largest steel market to curb excess capacity and pollution and has set a goal for its top 10 steelmakers to own 60% of production capacity by 2020. “There are some places using steel as a key contributor to economic growth as demand is robust,” Gan told Reuters on the sidelines of an industry event, adding some regions in China were not managing overcapacity controls very strictly.

Gan warned of growing competition in high-end products too. “There are signs of overcapacity in stainless steel, electrical steel and auto sheet steel,” he said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I’ve worked in heavy Engineering for 40 years....Chinese steel may be cheap but it’s the worst quality I’ve ever worked with...I’ve found some of it to be downright dangerous. I would have ZERO sympathy if the whole Chinese steel industry collapsed.

🤣🤣 What? You mean capitalism is winning over communism? Small mills undermining government mills? For Mao's sake. 🤣🤣

Good news for our wounded planet.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Amid trade war, China moves to remove limits on foreign ownership in the financial industryBeijing will be opening up its financial industry to foreign ownership from January, namely in the areas of futures, mutual funds and securities. China all the Way! Don't trust them. It's a communist country with a hidden agenda. ;-( China best do what their told!
Source: CNBC - 🏆 12. / 72 Read more »