Thursday April 09, 2009
EU warns China over increasing steel exports
Ambrose Evans-Pritchard
Telegraph
A simmering trade conflict between Europe and China is nearing the boil as state-supported Chinese steel companies ramp up capacity despite drastic cuts by the rest of the world.
ArcelorMittal, the world's biggest steelmaker, yesterday told its European workforce that production cuts of 50pc would continue indefinitely due to the "exceptional economic environment", raising fears that chunks of Europe's steel industry face closure.
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