Korean government and steel industry people say that Chinese government is required to carry out a long-term policy to keep the production capacity at proper level not to give difficulties to the global market and Korean market as well by shipping too much quantity. According to a mid-term outlook of World Steel Dynamics, Chinese steel industry will face a large-scale over-capacity in 2007. Production capacity of flat steel including hot rolled coils, cold rolled coils, and galvanized coils will have two digit growth in annual average till 2010, and the long products will have 2 percent annual growth.
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