1. Wuhan Iron & Steel Co., China's third-biggest steelmaker by market value, and rivals in China are shifting production to higher grades, including cold-rolled sheets used in automobiles, as the nation has overcapacity in lower grades.
2. Wuhan Steel, China's only mill capable of making oriented silicon steel used in power transformers, will boost output by 40 percent to 280,000 tons this year after it started operations at a new plant in September. Cold-rolled silicon steel output would rise to 1.62 million tons by 2010
3. Cold-rolled sheet output may rise 76 percent to 3 million tons this year. Production of the sheet will rise to at least 20 million tons by 2010.
And whoever knows the calculus of over-investment is not welcome to the Dreamers’ Ball, for now.
[Click here for full story at: BLOOMBERG.COM]
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