Top Indian steelmaker warns of flood of steel from China

Mumbai

THE global steel industry isn't out of the woods even after prices bounced back this year, with supplies from China remaining a significant concern, according to Sajjan Jindal, chairman of JSW Steel Ltd, India's second-largest producer.

There's still huge overcapacity in China, Mr Jindal said in an interview after the company's annual general meeting in Mumbai. "Our biggest concern is how China plays out and what they do as most of their businesses are run because of the highly subsidised policies of the government," he said.