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| TITLE |
Stimulus plans - Led to steel overcapacity in China |
| WRITER |
administrator |
DATE |
2009-08-31 10:45:01 |
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Stimulus plans - Led to steel overcapacity in China
31 Aug, 2009
It is reported that Chinese steel industry has again been picked up as a negative example in a recently held cabinet meeting for massive overcapacity and redundant constructions after it was requested by MIIT in mid of this month to conduct structural adjustment.
The overcapacity problem was covered by China CNY 4 trillion stimulus based on higher spending on construction of highways and other public works which has generated and inflated demand for steel.
Insiders warned that the steel embarrassment will be more difficult to solve under dual pressure of less pricing power for up stream raw materials prices and passiveness in volatile down stream prices if no measures to be hammered out as fast as possible.
Resource from MySteel.net |
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