According to Mr Xu Lejiang chairman of the group following Shougang relocation to Caifeidian, Hebei Province, China leading steel maker Baosteel Group will also withdraw part of its production capacity from Shanghai.

Although Mr Xu didn't disclose the time and location details about the plan, he mentioned that at least 3 million tons of steel production capacity will be removed from Shanghai in the coming 10 years.

There is much speculation regarding where Baosteel will relocate its production capacity to. According to mysteel.com analyst Mr Shen Yibing the steel maker is likely to move its stainless steel line to Fujian Province.

Source - Global Times

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