The Chinese steel industry points to a change in strategy

Posted on: 17 / 07 / 2022 | 0 Comentarios

The Chinese steel industry points to a change in strategy, with movements in the sector. China is moving to control the country's iron ore imports through a new state pool that could be operational by the end of this year, as the Xi Jinping administration seeks to increase Beijing's pricing power over the industry. Led by the China Iron and Steel Association and the Ministry of Planning, the initiative involves large state-owned mining and steel groups such as Baowu, China Minmetals Corp and Aluminum Corporation of China, according to people familiar with the operation.