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World's steelmakers fear flood of exports from huge China mills

Despite overcapacity in its domestic industry, lower iron ore prices have encouraged production

China boosted exports of the alloy by some 50 per cent last year to a record 94 million tonnes, and Western industry bodies see little sign of a major rationalisation of the industry.


PLUNGING iron ore prices are providing a lifeline for some of China's biggest steel mills, but raising the prospect of a rising tide of exports and increased friction with the European Union (EU) and countries such as India.

Even as China's domestic steel demand shrinks