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To alleviate oversupply in the blown up steel sector, China has decided to ban new steel sector projects for the next 4 years. Overcapacity has been a cause of concern for China?s steel industry for some years, causing huge losses at highly indebted mills, wasting resources and compelling steel mills to depend on government subsidies.
The Chinese... read more
POSCO Group is to replace CEOs at five of its six business units as part of the newly-named chairman Kwon Oh-joon?s reform plan to overhaul the world?s fifth-largest steel maker. On Friday, POSCO affiliates announced the key agenda of their shareholders? meeting planned on March 17, including candidates of new in-house directors who are likely to be named their new... read more
As ArcelorMittal report improving profits [see http://uk.news.yahoo.com/arcelormittal-cautiously-optimistic-2014-prospects-062335547--finance.html#tJMPAt2], should we assume that European steel is on the road to recovery?
European steel demand is expected to grow by up to 4 per cent this year, compared to a decline in demand of 0.6 per cent last year. The... read more