Untold story of China's steel woes

Despite cutting overcapacity, odds remain stacked against the world's biggest producer

China has made a significant contribution to the global efforts to cut steel capacity, in spite of its own mammoth difficulties, said experts.

"China has been actively cutting its steel overcapacity to help solve the global oversupply problem. China's large and medium-sized steel companies are taking the lead in this endeavor," said Li Xinchuang, head of the China Metallurgical Planning and Research Institute.