CHANGZHOU, CHINA - MAY 13: A worker supervises the production of molten iron at a furnace in the production area of the Zhong Tian (Zenith) Steel Group Corporation on May 13, 2016 in Changzhou, Jiangsu. Zhong Tian (Zenith) Steel Group Corporation is a privately-owned manufacturer that employs over 13,000 workers at its facility in ChinaÕs eastern Jiangsu province. Since 2001,the company says it has adopted new technology to streamline the production of premium quality steel and to reduce environmental impact. The majority of its steel output is for the Chinese market with 20% earmarked for export, mostly to Asia. The company says it is profitable, but admits business has dropped marginally from past years. China is the worldÕs largest steel producer, accounting for over 50% of global supply. ChinaÕs government has vowed to cut production capacity at state-owned enterprises by up to 150 million tonnes over five years to ease concerns of an oversupply on global markets. However, its efforts appear to be overshadowed by a recent increase in steel prices that has revived production at some Chinese facilities that had been closed down. (Photo by Kevin Frayer/Getty Images)

CHANGZHOU, CHINA - MAY 13: A worker walks in a tower overlooking part of the Zhong Tian (Zenith) Steel Group Corporation on May 13, 2016 in Changzhou, Jiangsu. Zhong Tian (Zenith) Steel Group Corporation is a privately-owned manufacturer that employs over 13,000 workers at its facility in ChinaÕs eastern Jiangsu province. Since 2001,the company says it has adopted new technology to streamline the production of premium quality steel and to reduce environmental impact. The majority of its steel output is for the Chinese market with 20% earmarked for export, mostly to Asia. The company says it is profitable, but admits business has dropped marginally from past years. China is the worldÕs largest steel producer, accounting for over 50% of global supply. ChinaÕs government has vowed to cut production capacity at state-owned enterprises by up to 150 million tonnes over five years to ease concerns of an oversupply on global markets. However, its efforts appear to be overshadowed by a recent increase in steel prices that has revived production at some Chinese facilities that had been closed down. (Photo by Kevin Frayer/Getty Images)

CHANGZHOU, CHINA - MAY 13: A smokestack is seen in the production area of the Zhong Tian (Zenith) Steel Group Corporation is seen on May 13, 2016 in Changzhou, Jiangsu. Zhong Tian (Zenith) Steel Group Corporation is a privately-owned manufacturer that employs over 13,000 workers at its facility in ChinaÕs eastern Jiangsu province. Since 2001,the company says it has adopted new technology to streamline the production of premium quality steel and to reduce environmental impact. The majority of its steel output is for the Chinese market with 20% earmarked for export, mostly to Asia. The company says it is profitable, but admits business has dropped marginally from past years. China is the worldÕs largest steel producer, accounting for over 50% of global supply. ChinaÕs government has vowed to cut production capacity at state-owned enterprises by up to 150 million tonnes over five years to ease concerns of an oversupply on global markets. However, its efforts appear to be overshadowed by a recent increase in steel prices that has revived production at some Chinese facilities that had been closed down. (Photo by Kevin Frayer/Getty Images)

CHANGZHOU, CHINA - MAY 13:Red hot rolled steel is seen on the production line at Zhong Tian (Zenith) Steel Group Corporation on May 13, 2016 in Changzhou, Jiangsu. Zhong Tian (Zenith) Steel Group Corporation is a privately-owned manufacturer that employs over 13,000 workers at its facility in Chinaâs eastern Jiangsu province. Since 2001,the company says it has adopted new technology to streamline the production of premium quality steel and to reduce environmental impact. The majority of its steel output is for the Chinese market with 20% earmarked for export, mostly to Asia. The company says it is profitable, but admits business has dropped marginally from past years. China is the worldâs largest steel producer, accounting for over 50% of global supply. Chinaâs government has vowed to cut production capacity at state-owned enterprises by up to 150 million tonnes over five years to ease concerns of an oversupply on global markets. However, its efforts appear to be overshadowed by a recent increase in steel prices that has revived production at some Chinese facilities that had been closed down. (Photo by Kevin Frayer/Getty Images)

CHANGZHOU, CHINA - MAY 13: A worker welds steel bars for export in the production area of the Zhong Tian (Zenith) Steel Group Corporation is seen on May 13, 2016 in Changzhou, Jiangsu. Zhong Tian (Zenith) Steel Group Corporation is a privately-owned manufacturer that employs over 13,000 workers at its facility in ChinaÕs eastern Jiangsu province. Since 2001,the company says it has adopted new technology to streamline the production of premium quality steel and to reduce environmental impact. The majority of its steel output is for the Chinese market with 20% earmarked for export, mostly to Asia. The company says it is profitable, but admits business has dropped marginally from past years. China is the worldÕs largest steel producer, accounting for over 50% of global supply. ChinaÕs government has vowed to cut production capacity at state-owned enterprises by up to 150 million tonnes over five years to ease concerns of an oversupply on global markets. However, its efforts appear to be overshadowed by a recent increase in steel prices that has revived production at some Chinese facilities that had been closed down. (Photo by Kevin Frayer/Getty Images)

CHANGZHOU, CHINA - MAY 12: A worker supervises molten iron in a furnace at the Zhong Tian (Zenith) Steel Group Corporation on May 12, 2016 in Changzhou, Jiangsu. Zhong Tian (Zenith) Steel Group Corporation is a privately-owned manufacturer that employs over 13,000 workers at its facility in China's eastern Jiangsu province. Since 2001, the company says it has adopted new technology to streamline the production of premium quality steel and to reduce environmental impact. The majority of its steel output is for the Chinese market with 20% earmarked for export, mostly to Asia. The company says it is profitable, but admits business has dropped marginally from past years. China is the world's largest steel producer, accounting for over 50% of global supply. China's government has vowed to cut production capacity at state-owned enterprises by up to 150 million tonnes over five years to ease concerns of an oversupply on global markets. However, its efforts appear to be overshadowed by a recent increase in steel prices that has revived production at some Chinese facilities that had been closed down. (Photo by Kevin Frayer/Getty Images)

CHANGZHOU, CHINA - MAY 12: Scrap metal to be used in steel production is piled at the Zhong Tian (Zenith) Steel Group Corporation on May 12, 2016 in Changzhou, Jiangsu. Zhong Tian (Zenith) Steel Group Corporation is a privately-owned manufacturer that employs over 13,000 workers at its facility in China's eastern Jiangsu province. Since 2001, the company says it has adopted new technology to streamline the production of premium quality steel and to reduce environmental impact. The majority of its steel output is for the Chinese market with 20% earmarked for export, mostly to Asia. The company says it is profitable, but admits business has dropped marginally from past years. China is the world's largest steel producer, accounting for over 50% of global supply. China's government has vowed to cut production capacity at state-owned enterprises by up to 150 million tonnes over five years to ease concerns of an oversupply on global markets. However, its efforts appear to be overshadowed by a recent increase in steel prices that has revived production at some Chinese facilities that had been closed down. (Photo by Kevin Frayer/Getty Images)

CHANGZHOU, CHINA - MAY 12: Workers maintain the production line at the Zhong Tian (Zenith) Steel Group Corporation on May 12, 2016 in Changzhou, Jiangsu. Zhong Tian (Zenith) Steel Group Corporation is a privately-owned manufacturer that employs over 13,000 workers at its facility in China's eastern Jiangsu province. Since 2001, the company says it has adopted new technology to streamline the production of premium quality steel and to reduce environmental impact. The majority of its steel output is for the Chinese market with 20% earmarked for export, mostly to Asia. The company says it is profitable, but admits business has dropped marginally from past years. China is the world's largest steel producer, accounting for over 50% of global supply. China's government has vowed to cut production capacity at state-owned enterprises by up to 150 million tonnes over five years to ease concerns of an oversupply on global markets. However, its efforts appear to be overshadowed by a recent increase in steel prices that has revived production at some Chinese facilities that had been closed down. (Photo by Kevin Frayer/Getty Images)