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China re-opens steel mills despite pledge to cut production

Despite pledges to cut steel production, China is reopening some of its mills.

A recent price rally in the domestic market is reported to have led to the restarting of more than 40 blast furnaces this year.

Massive overcapacity has already led to a flood of cheap Chinese steel exports, putting pressure on producers worldwide.

John Sudworth reports.

  • 25 May 2016
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