Steel Production Stagnates Despite Iron Mining Expansion
News: Steel production in China has plateaued as stringent environmental measures have curtailed capacity expansion despite rapid expansion by iron ore miners in the country, reports Reuters. 'Companies are no longer expanding capacity. They are putting an emphasis on environmental protection', said China Iron and Steel Association's Vice President Wang Xiaoqi. Mills are also pressured with tight credit that has increased costs for steel makers by 22% year-on-year in Q114.