Chinese steel demands cause havoc in international markets, the title is a little misleading:
Just a few days ago Prime Minister Wen Jiabao warned the country of the risks of the economy overheating. According to Luo Bingsheng there is truth to such a warning. In terms of logistical capacity and Chinese mining activity, the country might not be able hold its own, that is, regarding satisfying its own internal steel demands.
“Despite having set our production capacity at 52 million tons this year, we are expecting to be able to find additional new raw materials capable of producing only 38 million tons.”