Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Snowshoe who wrote (72435)	2/10/2010 3:27:26 AM
From: Snowshoe	Read Replies (1) of 74559

China to curb maverick steelmaking as costs rise finance.yahoo.com China plans step up efforts to shut down small mills or merge them with big steelmakers, cutting output to about 500 million tons by 2011, Miao said in remarks posted on the government-affiliated China Iron and Steel Association's Web site. One key goal of the restructuring is to increase Beijing's influence over prices set for imported iron ore in ongoing negotiations with foreign suppliers, led by Shanghai-based Baosteel Group Corp. Ore is they key material in steel making.

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