From the Financial Times: “China is making a glaring exception to its policy of damping investment growth by approving the construction of three big steel mills which are expected to free the country from its dependence on imports in about three years.
The next steel project expected to win Beijing’s approval is a proposed 10m tonnes-per-year facility in Zhanjiang city in the southern province of Guangdong, officials said. It is set to follow recent approvals for a plant producing 5m tonnes a year in Maanshan, Anhui province, and a stainless steel mill in Taiyuan, Shanxi province, with annual output of 1.5m tonnes. ”
