China's biggest steel makers, including Baosteel Group and Jiangsu Shagang Group, are considering cutting output, the Beijing Times said yesterday, citing a report from the China Iron & Steel Association.
Orders have fallen sharply, the report said. A global slowdown is also curbing exports. Chen Xianwen, head of market information at the association, said he's unaware of the report. Shen Wenrong, chairman of Shagang, China's biggest privately owned mill, denied any production cuts.
(Shanghai Daily October 9, 2008)
