China is set to strengthen its grip on the global steel market as its economy recovers from the coronavirus pandemic faster than rivals and domestic mills expand into higher-quality products, according to Japan’s top producer.
"Chinese steel-makers are working hard on product development,” Katsuhiro Miyamoto, executive vice president of Nippon Steel Corp., said in an interview. "We must stay ahead of them.”
Steel-makers in Japan have focused on making high-end steel used by auto customers, rather than trying to match China — the top producer — in volume. But now they are facing increased competition on quality as well as price as Chinese mills seek to catch up on technology.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.