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China to halt steel mill expansions to help stabilise markets

Posted on 15 January 2009

From Mineweb.com: China vowed on Wednesday to stop its steel mills from expanding further as industry figures showed the sector carrying massive overcapacity which risks swamping domestic and foreign markets.

The State Council, which also agreed measures to support its carmakers, said it would allow no new steel capacity expansion projects and would adopt a flexible tax policy on steel exports to “stabilise” China’s share of the global steel market….. Full Article: Source


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