mineral exploration project – commodity prices – mining stock- trade and market

Baosteel Group Corp.’s overseas expansion plans will focus on raw materials until a “clear” picture emerges about global steel demand, the chairman of China’s largest steelmaker said.

Other Chinese steelmakers are also likely to hold back from “large-scale” capacity expansion overseas in the next three to five years as they focus on completing domestic mergers, Baosteel’s Xu Lejiang said today at a conference in Beijing.