China agency admits fault in surplus forecast

Dec 07, 2005 | 09:40 AM | Hongmei Li

A Chinese government research agency has revised its predictions of a huge steel surplus next year following criticism of its original report by a leading industry official.

The State Council Development Research Center (DRC), a top government planning body in China, has admitted it made mistakes in its original report and is now forecasting a 2006 surplus of 30 million tonnes, down....

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