China's Top Leadership Driving Steel Output Cuts, Cliffs Says
- Supply will drop below 800 million tons this year, CEO says
- China mills face more opposition to exports, Goncalves says
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Steel production in China will extend declines this year as the country’s top leadership has endorsed a concerted push to cut back on overcapacity in the country that accounts for half of global supply, according to the head of Cliffs Natural Resources Inc.