China is caught in a steel trap

Dealing with excess steel capacity seems straight-forward but the solution could mean dangerous social instability. How China solves the problem will be key to the future of iron ore mining in Australia.

China’s steel industry – the largest in the world –produced 300 million tonnes of excess steel last year which was twice that of total European production, according to Li Chuangxin, deputy secretary general of the China Iron and Steel Association.

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