Tangshan government to close 46 steel mills
According to recent news in the market, Tangshan City government of China has recently announced that it will reduce the number of steel mills in the region to 10 from 56. The steel mills that are planned to be closed are stated to be small-scale steel mills. Now, the condition of workers that will be laid of with the closures creates concern for Tangshan government. The government has closed many mills so far, which led to decrease of 7 million tons in region's production. The reason for the closures is stated as establishment of many unlicensed private steel mills in recent times.