China Fails To Engage On Aluminum Overcapacity At S&ED, Pledges Steel Action

The United States and China failed to find a “common understanding” on the problem of excess capacity in the global aluminum sector at this week's Strategic & Economic Dialogue, but discussions on the issue will continue, according to Treasury Secretary Jack Lew. China is a major source of the global overcapacity in aluminum as it is for steel, for which it pledged to make its industry more market oriented. This will serve to reduce excess capacity by closing unprofitable enterprises...