International Steel Mills
January 17, 2016
Chinese “Zombie” Mills Produce for Sake of “Social Stability”
Written by Sandy Williams
There are zombie factories in China. No, they are not making zombies but the factories themselves are the equivalent of the walking dead–steel mills hanging on by a thread, not making money, reducing workforces, but clinging to life when they are all but dead.
The China Iron and Steel Association (CISA) is painting a grim picture for China’s steel industry with forecasts for continued falling steel consumption as the economy enters “a new normal.”
