Private mills’ proportion of Chinese steel output tops 50%

Mar 13, 2013 | 08:54 AM |

Tags  Chinese private mills, Chinese steel mills, Chinese steel production, crude steel output, steel consolidation

SHANGHAI — Privately owned steel mills now account for just over half of Chinese steel production, which poses a challenge for any serious move toward industry consolidation.

Private mills produced about 362 million tonnes of crude steel last year, 50.5 percent of the country’s total output of approximately 716.54 million tonnes, Shen Wenrong, founder and president of Shagang Group, China’s largest privately owned steelmaker, said at the opening ceremony for the Small and Medium-sized Metallurgy Enterprises Chamber of Commerce.....

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