25
May
15:31
China chooses Wugang for capacity reduction pilot project
Chinese Premier Li Keqiang named Wuhan Iron & Steel (Wugang) as a pilot project for capacity reduction and relocation of employees during a visit to the mill this week, Kallanish notes. He also offered central government support to reduce Wugang’s debt, according to local media.
Wugang plans to cut 4.42 million tonnes/year of steelmaking capacity in 2016. It produced 15.4 million tonnes of crude steel at its facilities in Wuhan in 2015 but this is expe…
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Anonymous
Very good overview of the weekly steel market.
Anonymous