China’s stainless producers growing too fast: SMR's Moll

Sep 14, 2011 | 04:35 PM |

Tags  China, stainless steel, Markus Moll, SMR

LONDON — Chinese stainless steel producers are expanding rapidly because they have access to capital markets that other producers lack, a leading steel analyst said.

"I have a problem with the Chinese state sector, where companies such as Baosteel (Group Corp.) are expanding and have (access) to interest rates as (low as) 0.6 percent," Markus Moll, managing director of Austrian steel consultancy Steel & Metals Market Research GmbH (SMR), said. "For me, that is a subsidy. If you calculate it in dollar terms, that is a....

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