China blames weak demand for global steel crisis
Source: PTI Blamed for dumping its excess steel overseas, China refuted the criticism for triggering an international steel crisis and tried to lay the responsibility instead on a weak global demand and the economic slowdown. "The bulk of our steel products are consumed domestically. China does not subsidise its products to promote exports," Ministry of Commerce (MoC) spokesperson Shen Danyang said. "The government has taken action to address steel overcapacity. Notable progress has been made," Shen told reporters here adding that China will continue to expand domestic consumption of steel products. China, the world's top steel producer, has increased steel exports in recent years. Its steel exports jumped 30 per cent to 9.98 million tonnes in March from a year ago - despite ...
India outpaces world in steel production during Jan-April 2015
The Dollar Business Bureau India's steel production grew by an impressive 6.7% in the first four months of 2015, the highest among major global producers, the World Steel Association (WSA) has said. According to WSA, India, now the world’s third largest producer, produced 29.97 Million tonne (Mt) steel during the January-April period of the current year compared to 28.09 Mt in the same period a year ago, outpacing the world’s average growth of 1.7%. India’s steel production grew vis-à-vis a decline of 1.3% in China, the highest producer by a wide margin and 1.7 %, globally, said the WSA. According to the report by WSA, the global production of steel has come down to 536 Mt during January-April period ...
