China Steel Capacity Transfer Is ‘Imaginary’: Chart of the Day
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China’s push to transfer excess steel capacity by building plants overseas faces skepticism from analysts because of the size of the mills being proposed.
The CHART OF THE DAY compares steel production in 2013 of a single company, Hebei Iron & Steel Group, to 10 countries and regions. China’s total output of 779 million metric tons isn’t shown because it produced more than all others on the chart combined, including seven times more than world No. 2 Japan.