11
Mar
09:45
Wugang chairman strikes realistic note on steel jobs
Ma Guoqiang, chairman of Wuhan Iron and Steel (Wugang), told a press conference in Beijing that the company may only need 30,000 workers to produce steel, not the 80,000 it currently employs. Although he did not suggest that they would all be laid off as some reports have said, steelmaking capacity will be reduced in Wuhan however as capacity in southern China ramps up, Kallanish notes.
Ma said that the 40,000-50,000 workers that were not really needed to produc…
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Anonymous
Very good overview of the weekly steel market.
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