News from Notch Consulting, Inc.

March 1, 2016

China laying off 1.8M coal and steel workers

Filed under: Uncategorized — Notch @ 11:47 am

From Bloomberg, more challenging news out of China as the government tries to address overcapacity in the coal and steel sectors:

China aims to eliminate production capacity of as much as 500 million metric tons of coal and 150 million tons of steel by 2020. Some coal mining companies last monthlobbied government officials, including Premier Li Keqiang, to set a price floor for coal to protect against bankruptcy and prevent job cuts, according to people with knowledge of the matter.

Advertisements

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.

%d bloggers like this: