NDRC moves to protect China from iron ore shortage

Friday, 10 May 2019

The NDRC last year had ordered local governments to help broker deals between zombie firms and their creditors, and to draw up restructuring plans by June 2019.

Steel mills will also be encouraged to launch large-size scrap recycling and processing centres and to adopt electric-arc furnaces that only use scrap metals to make steel and emit less toxic air compared to widely used blast furnaces.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.