Reported 3 days ago
China is anticipated to miss its year-end target for increasing production of environmentally friendly steel due to stagnant usage rates of cleaner electric-arc furnaces and a struggling property market that dampens demand and prices. With electric-arc furnaces aimed to produce over 15% of total output by 2025, current operating rates have declined to their lowest since 2021. As the real estate crisis continues to affect steel demand adversely, analysts express doubt about achieving these targets amidst ongoing economic challenges.
Source: YAHOO