Reported about 8 hours ago
Baosteel, China's largest steelmaker, forecasts a possible nationwide reduction in steel production for 2025, citing external pressures such as tariffs and weakening demand. The company acknowledges the current overcapacity issue and anticipates that a government-recommended cut could help stabilize the market. Baosteel also predicts a decline in steel exports and domestic consumption in the coming year, despite reporting a significant rise in profit for the first quarter of this year.
Source: YAHOO