Shaoguan Steel's 10mt project to be approved

摘要

China government will approve the construction three large-scale steel plants to ease the dependence on steel imports. Besides Maanshan Steel's 5mt project and Tisco's 1.5mt stainless project, Guandong Shaoguan Steel's 10mt project will be approved soon as well. Insiders said the purpose of these projects is to substitute steel imports with domestic products. With the commission of new projects, China's steel imports will decreased to a very low level within three years. By the end of 2007, China will basically be capable to satisfying steel demand by domestic production.