Steely ambition: China’s Baowu eyes moving blast furnaces to Cambodia

Beijing – China’s top steel maker Baowu Group is studying plans to relocate blast furnaces from remote Xinjiang to Cambodia in a bold example of China’s heavy industry shifting excess capacity overseas, a source familiar with the firm’s plans said.

The move, which would mark Baowu’s first overseas production, shows the lengths Chinese steelmakers are prepared to go to maintain output levels despite Beijing’s drive to cut industrial slack in the mainland.

In full: https://uk.reuters.com/article/us-china-steel-baowu-cambodia/steely-ambition-chinas-baowu-eyes-moving-blast-furnaces-to-cambodia-idUSKCN1SS0MQ

© 2019, All rights reserved.