China steel consumption said near peak
Jun 20, 2012 | 04:29 PM
| Frank Haflich
NEW YORK As Chinese steel consumption nears its peak, overcapacity and restructuring loom as increasingly critical issues to the countrys industry, observers say.
Wu Wenzhang, president of consultant and data provider Shanghai Steelhome, said Chinese steel consumption should peak at 750 million tons per year in the 2013-to-2015 timeframe. By then, he said, "overcapacity in all aspects" will help speed up restructuring moves such as mergers and acquisitions.
But Chinese mills wont pass their excess capacity on to the rest of the world, Wu said at the Steel Success Strategies XXVII conference in New York co-sponsored by AMM and World Steel Dynamics Inc., noting that Chinas government not only doesnt encourage steel exports but in some cases has placed controls on them. ....
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