Reported 2 months ago
China's steel sector is experiencing significant difficulties as a prolonged slump in the property market reduces demand for steel, leading to falling prices and dwindling profits. With a projected 10% decrease in demand from the construction sector and no immediate government relief in sight, the industry's outlook remains grim. Analysts indicate that without new stimulus measures, the steel market will continue to struggle, which could have global repercussions as China's steel exports increase.
Source: YAHOO