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Maanshan Says China Steel Oversupply to Persist in 2012: CBN

Tuesday, 21 February 2012 | 12:36
Oversupply in China’s steel industry will continue in 2012, Maanshan Iron and Steel Co. General Manager Su Jiangang told China Business News for a story published today.
China cannot put in place economic stimulus measures similar to those it enacted in 2008, CBN reported, citing an interview with Su, who said he is “not optimistic” about the demand growth for the steel industry.
Maanshan needs to improve its cost efficiency and expand non-steel related businesses, Su said, according to the report. The company is looking into making high-speed rail wheels, the report said.
Source: Bloomberg
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