Steel subsidy trend jolts Nafta partners

Nov 19, 2004 | 07:27 AM | Nancy E. Kelly

Canadian, Mexican and U.S. steelmakers are alarmed at what they see as a growing trend in global steel subsidies, giving rise to pessimism that the window of opportunity for a steel subsidies agreement might already have closed.

A report presented to the North American Steel Trade Committee (NASTC) on behalf of the steel industry noted that about 250 million tonnes of new steel capacity would be added worldwide during the next five years, with much of the expansion in developing countries being funded by national governments, including.

? China--Government-controlled Baoshan Iron & Steel Co. Ltd., Shanghai, the nation's largest steelmaker, has plans to become a 50-million-tonne-a-year producer.....

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