The Xinming Steel Pipe plant that shut this month, leaving more than 400 workers and a host of creditors unpaid. Photo: Reuters The Xinming Steel Pipe plant that shut this month, leaving more than 400 workers and a host of creditors unpaid. Photo: Reuters
The Xinming Steel Pipe plant that shut this month, leaving more than 400 workers and a host of creditors unpaid. Photo: Reuters

Tangshan mill closure reflects wider problems in Chinese steel industry

Debt-laden steelmakers lose financial lifelines as overcapacity pushes many into near bankruptcy

The Xinming Steel Pipe plant that shut this month, leaving more than 400 workers and a host of creditors unpaid. Photo: Reuters The Xinming Steel Pipe plant that shut this month, leaving more than 400 workers and a host of creditors unpaid. Photo: Reuters
The Xinming Steel Pipe plant that shut this month, leaving more than 400 workers and a host of creditors unpaid. Photo: Reuters
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