Baowu Steel, China's largest steelmaker, is adding 4.03 million tonnes to its hot metal capacity and 3.61 million tonnes to crude steel capacity at its Zhanjiang city production site in Guangdong province, south China.
The increases come at the expense of production cuts at operations in Shanghai and in Jiangsu province.Baowu cut 1.18 million tons of capacity at its Nanjing-based subsidiary Shanghai Meishan Iron & Steel Co in Jiangsu and 2.93 million tonnes of hot metal and 4.55 million tonnes of crude steel capacity at Shanghai-based Baosteel Stainless Steel Co.The measures have been approved by China's Assets Supervision & Administration Commission...