China’s capacity cuts to benefit Asian steel: Moody’s

Nov 05, 2013 | 07:59 AM | Weilyn Loo

Tags  China steel, steel production, steel capacity, Asian steelmakers, Jiming Zou, Moody's Investors Service, Baosteel Group, Posco Nippon Steel & Sumitomo Metal

SINGAPORE — China’s push to reduce steel capacity is credit positive for Asian steelmakers, although the timing and scope of the capacity cuts are uncertain, ratings agency Moody’s Investors Service Inc. said Nov. 5.

"The oversupply of steel in China is the dominant driver of the weak industry fundamentals in Asia’s steel industry," Jiming Zou, a Moody’s assistant vice president and analyst, said in a report.....

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