Steel manufacturer considers shutting down production

Sliding commodity prices have made one of Australia's biggest steel manufacturers, Bluescope Steel, ponder shutting down production in Australia and New Zealand, reports the Wall Street Journal.

"Billedet er ikke af Bluecope Steel) | Photo: Gøteborg Havn

The slowdown in the Chinese economy in particular is now starting to hit the market through tangible consequences, and a next step could be the de-facto shutdown of production facilities. According to the Wall Street Journal, Australian steel manufacturer Bluescope Steel is considering whether to cut its output.

"We have to address the major challenge of losses in commodity steelmaking in Australia and New Zealand,” BlueScope chairman Graham Kraehe tells the newspaper.

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