Why China can’t get rid of all those steel mills

The steel in­dus­try suf­fers from a se­vere glut—but will re­sist cuts “Steel­work­ers are pretty feisty peo­ple when it comes to protests”

Bloomberg Businessweek (Asia) - - CONTENTS -

China has had an over­ca­pac­ity prob­lem in its alu­minum, chem­i­cal, ce­ment, and steel in­dus­tries for years. Now it’s reach­ing cri­sis lev­els. “The sit­u­a­tion has gone so dra­mat­i­cally bad that ac­tion has to hap­pen very soon,” said Jörg Wut­tke, pres­i­dent

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