By Michael Komesaroff
Michael Komesaroff is principal of Urandaline Investments , a consultancy specialising in China’s capital intensive industries, and a guest contributor to Dragonbeat blog this week.
China’s metals industry has an unenviable reputation for being technologically backward and highly polluting. In particular, the perception remains that China’s steel industry is dominated by thousands of small, antiquated mills producing low-quality construction steel at a high environmental cost.
Yet, while this description remains true of parts of the industry, it does not hold for the growing number of modern steel mills that operate at efficiencies close to their best international competitors.