Asian giant’s true steelmaking costs point of debate

Sep 15, 2011 | 04:05 PM |

Tags  Asia, China, steel, Gorkem Bolaca, LN Metals International

MILAN, Italy — The European perception that steel production costs in China are exceptionally low is mistaken, according to Gorkem Bolaca, general manager of LN Metals International Ltd.

But the cost of major steelmaking raw materials will drop from the fourth quarter of this year as capacity begins to outstrip demand, partly because China’s iron ore production is set to increase, he told delegates at the Galvanizing and Coil Coating Conference in Milan sponsored by AMM sister publication Metal Bulletin.

However, he was challenged from the floor on both assertions.....

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