Archive for January 12th, 2009
China to plan auto, steel support this week
China’s cabinet will discuss concrete steps this week to support its slumping auto and steel industries, an official source told Reuters on Monday.
Assistance plans for auto and steel makers are likely to feature tax cuts and incentives to promote industrial consolidation and eliminate outdated factories, the source said.
Full Story Guardian.co.uk
Technorati Tags: China steel,Steel Industry
Posted: January 12th, 2009 under Steel, Steel International.
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Nippon Steel could cut output further in downturn
Nippon Steel Corp the world’s second-biggest steel maker, is likely to reduce output further as it struggles with weak demand and pressures for price cuts from battered auto makers in the downturn.
"We have said 2 million tonnes, but it probably won’t stop there," Chairman Akio Mimura told Reuters on Sunday, referring to its previous plan [...]
Posted: January 12th, 2009 under Steel, Steel International, Steel News.
Comments: 1