Chinese steelmakers’ profits squeezed

Feb 03, 2014 | 02:03 PM |

Tags  China steel, steel production, steel capacity, pollution controls, steel prices

SHANGHAI — China’s steel industry struggled against overcapacity and weak product prices during 2013.

Even though production slowed during the final two months of the year as Beijing tightened environmental regulations to combat high pollution levels, the industry produced a record 779 million tonnes of crude steel for the year, up 7.5 percent from 2012, accounting for almost half of global steel output of 1.6 billion tonnes.

Air pollution was a key topic of discussion in China last year, with its heavy industries coming under increasing pressure to curb emissions.....

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