Research house MySteel estimates around 50 million tonnes of Chinese capacity has been re-started this year, the equivalent of 41 blast furnaces with an annual capacity of 1.2 million tonnes.
The restarted capacity is more than 10 times Australia's total production and accounts for most of the 60 million tonnes China shut in 2015.
The closures were part of government efforts to modernise the sector, reduce air pollution and cut over-capacity.
"The market is so good why would steel mills not re-open?" said Xu Xiangchun, the chief information officer at MySteel via phone.
...Stockbroking firm Everbright Securities estimates the average Chinese steel mill is now making a profit of 400 yuan per tonne of steel produced, the highest level since 2008.
波士顿中国留学生因骚扰民主活动人士被判入狱
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4月24日,来自中国的前伯克利音乐学院学生吴啸雷被美国法院判处九个月监禁。法院要求吴啸雷6月7日前往指定的监禁 […]...
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