Bloomberg quoted JPMorgan Chase & Co said Baosteel Group Corp China biggest steelmaker is struggling to meet explosive demand from automobile and home appliance makers and has pushed production to near record levels.

Ms Jing Ulrich the Hong Kong based chairwoman of China equities at JPMorgan said “Baosteel is having difficulty meeting the explosive demand from these two industries. Demand from the machinery industry is seeing a steady increase, although exports remain weak. The only area of weakness seen by the company is from the shipbuilding industry.”

(Sourced from Bloomberg)