Thursday, March 10, 2016

China steel fact of the day

From a fascinating Bloomberg story on China's steel sector problems,
The country’s leaders have vowed to reduce excess industrial capacity and labor in state enterprises even as they battle the slowest economic growth in a quarter of a century. China will eliminate up to 150 million metric tons of steel-making capacity in the next five years, the State Council said after a Jan. 22 meeting.
To put this in perspective, India's total steel production in 2014-15 was 91.46 mt!

No comments: