According to a news report by the Associated Press, a representative from Japan’s Trade Ministry is calling for China to reduce its steel production capacity due to growing concerns that China’s steel production levels could result in a decline in global steel prices.
The AP noted that Tetsuhiro Hosono, director general of Japan's Trade Ministry, made the request because China's crude steel output, which has made an annual increase of 20 percent in recent years, could affect steelmakers worldwide, including those in Japan, and eventually hurt the Japanese economy.
Hosono asked the Chinese government to abolish small blast furnaces and offered to provide Japan's help to scrap the facilities, along with environmental protection assistance and energy-saving technologies through major Japanese steelmakers, the Yomiuri said.
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