Chinese steel mill urges US fairness
Source: Xinhua |
July 8, 2010, Thursday
|
Print Edition
Print Edition
CHINA'S Anshan Iron and Steel Group Corp yesterday called for a fair market environment in the United States after 50 US lawmakers sought to block its investment in a US steel company.
In a recent letter to US Treasury Secretary Timothy Geithner, the Congressmen said the joint rebar venture proposed by Anshan Iron and Steel and US's Steel Development Co threatens "American jobs" and "national security."
In a statement, the steel mill said its investments in the US and other regions were commercial acts based on market demand.
The steel bars produced at the US$175 million facility, in which Anshan Iron and Steel has a 14 percent stake, would mainly substitute imports, it said. Rebar is a low-end steel product mainly used in construction.
The 300,000-ton plant in Amory, Mississippi, would create jobs and increase tax revenues and would not harm local suppliers, it said.
In a recent letter to US Treasury Secretary Timothy Geithner, the Congressmen said the joint rebar venture proposed by Anshan Iron and Steel and US's Steel Development Co threatens "American jobs" and "national security."
In a statement, the steel mill said its investments in the US and other regions were commercial acts based on market demand.
The steel bars produced at the US$175 million facility, in which Anshan Iron and Steel has a 14 percent stake, would mainly substitute imports, it said. Rebar is a low-end steel product mainly used in construction.
The 300,000-ton plant in Amory, Mississippi, would create jobs and increase tax revenues and would not harm local suppliers, it said.
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