Chinese Overcapacity Cause for Sleeplessness

January 2006
Metal Center News;Jan2006, Vol. 46 Issue 1, p31
Trade Publication
The article presents the implications of the overcapacity of the Chinese steel industry. Steel executives are worried that China will flood the market with cheap steel in 2006 and beyond. Nucor Vice Chairman, President and CEO Daniel DiMicco says that China has an excess of 100 million tons of inefficient steel production which the Chinese would like to see eliminated. Although China has released a Steel industry Policy aimed at rationalizing obsolete capacity, many also see in it evidence that the government is actively subsidizing its industry in violation of global trade rules.


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