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
- From the section Business