Baosteel aims to produce 66m tonnes of steel by 2015

Beijing: While the Baltic Dry Index hovers at sluggish levels this past month, owners would have been alarmed at steel news today which came out today. China's Baosteel Group aims for a steelmaking capacity of 50 mt/year in 2012, and 66 mt/year in 2015, according to a release by Baosteel Monday. This compares poorly with a December 2008 announcement that the steelmaker would be churning out 80 mt by 2015. Last year, the leading Chinese mill produced just over 38 mt.
(Source:www.seatradeasia-online.com)