No Steel Cuts?

SCMP: China’s steel capacity grows despite drive to cut output, Greenpeace says
The regional arm of the NGO and Chinese consultancy Custeel found that most steel mills shut down during the drive last year were already idle.

The cuts made during the campaign were offset by resumed production and newly added output, leading to a net increase of 36.5 million tonnes in operating capacity, according to the report published on Monday.

The study came as the top ­economic planner announced crude steel production increased 1.2 per cent to hit 808.37 million tonnes last year, against a 2.3 per cent drop in 2015.

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