The European Federation of Iron and Steel Industries (Eurofer) published an article as long as 166 pages of the report, declaring how the Chinese iron and steel enterprises are rooted in a strong "government - enterprise" relationship network.
Chinese steel exports in the share of EU"s total imports, rising from 2 percent in 2003 to 30 percent in 2007, and high value-added flat products are getting higher and higher proportion.
China has 660 million tons of steel production capacity, but the Eurofer, with a turnover of over €160 billion, direct employees reaching 44 million people, its annual steel production is only total 20 million tons.
The report said the Chinese steel industry in 2009 will have 20 million tons of new capacity to put in steel market under the premise of the serious oversupply, so the European steel mills" worry is natural, said Qing-Guo Wang, general manager of Yieh Corp. Shanghai branch. Source: Yieh.com