Bloomberg citing Mr Deng Qilin GM of Wuhan as saying that Wuhan Iron and Steel Group, China’s third largest steelmaker may delay its Fangcheng Port project.

Mr Deng said the National Development and Reform Commission, the country’s top planner, may delay approval for the Fangcheng Port project as well as for Baosteel’s Zhangjiang project on concerns of overcapacity in China.

Both companies are seeking to build a 10 million tonne steel project.

(Sourced from Bloomberg)