Reported about 13 hours ago
China's steel industry, the world's largest, is anticipated to undergo significant restructuring in response to falling domestic demand and increasing global trade protectionism. Reports suggest that Beijing may announce capacity cuts of up to 50 million tons during an upcoming political meeting, as the industry grapples with overcapacity and a decline in demand driven by a housing crisis. Analysts predict that these new reforms, termed 'Supply Reform 2.0', are necessary to stabilize the sector and could benefit larger state-owned enterprises at the expense of smaller competitors.
Source: YAHOO