Japan Asks China to Cut Steel Capacity
September 18, 2006
Japanese officials are asking China to cut its steel production capacity, Yomiuri Shimbun reported Monday.
Tokyo says China’s crude steel output, which has increased about 20 percent every year, may cause steel prices to plunge across the world.
Japan, which is a major steel producer, asked China to eliminate small blast furnaces and offered environmental assistance with such a venture.