In the week ending on May 7, 2022, domestic raw steel production was 1,777,000 net tons while the capability utilization rate was 81.4 percent.

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Sinosteel Cam S.A. estimates that at least 600 direct jobs and more than 1,000 indirect jobs will be created through the project.

"The previously pent-up steel consumption will not disappear. It will only be delayed," Shi said.