China fails to cut steel production as mills restart on rally
Wed, Sep 28, 2016 - 5:50 AM
In the first eight months of 2016, Chinese steel plants churned out 536 million tonnes, just 0.1 per cent shy of the same period a year earlier, government data show.
CHINA cannot seem to avoid producing more steel than the world needs. After the government said in February that it would cut production capacity by as much as 13 per cent, a rebound in prices from the lowest in more than 12 years proved too much of a temptation in a country...