So far, this piece of land in Guangdong is still a huge morass of Baosteel Group plans to invest $ 11 billion to build a steel plant, will eventually change the sleeping east island. The 12-square-mile radius of this land will also include a loading and unloading of iron ore berth 50 ships, the new port. The new plant construction is expected to provide thousands of jobs, but also contribute to the city tax.
 
China is the world's largest steel producer, accounting for 45 percent of global production, the world's 10 largest steel mills in China accounted for 6. The mainland's full capacity is expected to reach 940 million tons this year - more than the demand for more than 220 million tons. "The situation is bad, we've never seen such a large overcapacity," the person in charge of Australia's commodity advisory body Michael,said.
 
In the background of the high price of iron ore oversupply hit profitability. China's steel industry in the first quarter loss of 1 billion yuan. The person in charge of the China Steel Industry Association, said: "The steel industry in the winter has come, we have to control the production and pay close attention to inventory."
 
Since the Mao era, China's steel industry has been a symbol of national strength. Its development is usually out of the needs of the political goals of incentives rather than economic realities. After the outbreak of the global financial crisis, China has launched the infrastructure construction frenzy, building bridges, build a building to repair the high-speed rail. The banks loose lending policies coupled with the rapid approval of many projects means that the country has been adding new steel production capacity faster than demand. The Chinese do not want to see the decline in economic growth too fast, especially to meet the eighteen on the occasion. Tsinghua University Business School professor sent Lectra Qie Wani said: "They are now building infrastructure is not because of the need, and want to achieve the GDP target."



Other News:
Chinese concerns about its excess steel production!
Baosteel special material steel pipe factory-made tools to eliminate security ri
Steel industry e-commerce to accelerate integration of the logistics supply chai
Nanhai movement in the Philippines to engage in large rely on Han motive to lie?
Baosteel Engineering and automated welding robots successfully bid
Tang Keli Lane, Mountain Iron and Steel Group project first cargo of iron ore de
Visits to the truth of the the Wada terrorist hijackings: the thugs For the manu
The IKO combination bearing damage judgment skills