The steel industry swelled over the past decade to support a history-making Chinese construction boom. Once that tailed off, the country was left with a glut of half-idle, money-losing mills.
Beijing has closed mills and eliminated 1 million jobs but is moving too slowly to defuse American and European anger at a flood of low-cost exports that is double the volume of second-place Japan.
China says it shut down 30 million tons of capacity last year.
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