China Sets June Deadline to Stamp out Shoddy Steel Manufacturers
(Beijing) — China aims to eliminate all substandard steel mills by the end of June, a senior official said, in a move expected to further push up prices that are already seeing an upward trend after the central government’s overcapacity cut squeezed supplies.
The central government has sent supervisors to different provinces to ensure that all producers of so-called ditiao steel be closed by June 30, said Lin Nianxiu, a vice chairman of the National Development and Reform Commission, China’s top economic-planning agency, at a meeting on Tuesday.
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